Register Real Estate Advisors

Looking for ways to increase your credit score? There are some tips you need to know that will help you increase your score. The first is, never cancel a credit card that is more than two years old. Having a “seasoned” account, one that is more than 2 years old is beneficial for you.
Second, increase your maximum allowable credit limit. If you have a credit card that is close to its maximum balance, call the credit card company and ask them to increase the credit limit. The credit bureaus don’t like to see “maxed out” credit. Ask them to do this without pulling your credit.
In addition, spread out your balances among your credit cards to keep the ratio between cards balanced and credit limits to 30% or less. Finally, be sure to pay your bills on time. The number one reason for a low credit score is late payments. Studies have show that 79% of all credit reports have errors on them so check your credit periodically to look for mistakes. Remember that lower scores mean higher interest rates for buyers. Keep in mind that the “free” on line credit reports DO NOT include your credit score. You have to pay extra for your FICO score. So if you are thinking about purchasing a home, please call RREA’s in house lender, Terry Traylor, to apply. If anything negative shows up on your credit, Terry can help you fix it over time.

In today’s market, it is increasingly more difficult to get financing for a home.  As a Realtor, I have built relationships with lenders in the community and there are some I highly recommend because of successes I have had with them and others I do not recommend.  Buying a home is an involved process and you do not want to get bogged down on the lending side.  If your lender is not finished with the loan by your closing date, you could lose the house that you want to purchase.  I can help you choose a lender that will work on your behalf to help you get into your next home.  Please call me for a referral of lenders that I have had proven success with.  Not only can I help you find a lender to work with, I can help walk you through the process so you can get the keys to your dream home. 

1. Apply for a Pre-Approval and work with your Realtor (me) to find your dream home
2. Make an offer to the Seller including your Pre-Approval from the lender to strengthen your offer
3. Loan Application must be completed and submitted to the lender
4. Lender orders appraisal, credit report, verification of your employment and assets
5. Lender evaluates application and support documents, approves loan and issues letter of committment
6. Closing is held, loan documents are signed, and the loan is funded
7. Lender disburses funds to the closing agent at the title company, seller is paid, and title to the home becomes yours
8. Required documents are recorded at the County office of records

It’s that easy.  Call me today to get a list of lenders that I trust to take care of my clients mortgage needs.

WASHINGTON, D.C. (New York Times) – The Federal Reserve acknowledged on Wednesday that an economic recovery was underway but signaled that it was still much too early to start raising interest rates.

In a statement following a two-day meeting by the Fed’s policy makers, the central bank repeated that it would keep its benchmark overnight interest rate at virtually zero for “an extended period.”

Policy makers also announced that they would extend the Fed’s program to buy up almost $1.5 trillion worth of mortgage-related securities through the end of March.