Posts with tag 'Home Buying Tips'
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13
How to Improve Your Credit Score in 2021
You may have heard that there is a shortage of real estate available in America, but our real estate agents want to assure you that there are plenty of magnificent Atlanta homes for sale, no matter your price range. But did you know that your credit score can change the affordability of your dream house? Credit scores not only make a difference in the mortgage rate but also in the type of loan for which you can qualify, including the amount of down payment required. Conventional mortgages usually require a minimum score of 620, FHA requires 580, VA and USDA require 640, and jumbo loans 700-740. Unfortunately, how these credit scores are calculated is a mystery to most consumers. Here are few ways to boost your score.
- Don't apply for new credit
Retailers are always pitching their store cards with promises of money-saving prices and cashback on purchases. Lenders look at your FICO score to determine creditworthiness. Opening new accounts over a short period of time can signal a greater credit risk to lenders. New credit accounts for about 10% of your score.
16
Relocating to Atlanta? Tips for Out-of-State Buyers
A new job. A desire to be closer to family. A change of scenery. There are many reasons why you might be looking to relocate to Atlanta. A cross-country move can be exciting, but it also adds a few more layers to the relocation process. The following tips by our real estate agents will help you avoid the pitfalls of buying a house out of state and ensure the deal goes smoothly.
- Do Your Research
Whether you're moving 30 miles or 3,000 miles away in a different state, you should do loads of research before making the big purchase. You need to prioritize what's most important to you in order to narrow down your choices. Do you want the shortest commute to work, picturesque scenery, or a high-ranking school district? Fire up Google and discover important details about a community's economic stability, employment potential, local crime rate, weather, schools, amenities, and more.
26
How Old is Too Old When Buying a House?
Buying an older home can be a one-of-a-kind experience. Our real estate agents understand the sentimental appeal of a home whose walls are filled with history and character. If you're thinking about purchasing older Atlanta homes for sale, there's a lot to consider. We've laid out the pros and cons to help you decide if it's worth it.
The Pros
- Charm and Craftsmanship
These days, homes are somewhat cookie-cutter in style- they tend to have the same features and feel. Older houses come with plenty of character and charm. From the wide-plank wood floors, balustrades, and ornate stone fireplaces to vintage door knockers, sloping ceilings, and crown moldings in the corners, there are so many fun details to love in an older home.
28
Buying a Home? Don't Let the Competition Scare You
The 2021 housing market is a royal flush for sellers – inventory is low, buyer demand is high, and mortgage rates are at historical lows. If you're buying in an extreme seller's market, you're bound to experience stiff competition, and you'll be expected to make quick decisions. In sought-after areas, houses like these Atlanta homes for sale are going under contract in just a matter of days due to competitive bidding.
So here's the question, is this a good time to buy? Yes, if you're ready. The best time to buy a home is when you're ready. Don't let the competition scare you from closing on your dream home.
Extremely low housing inventory has made it difficult for most buyers to lock in a deal. But fret not; with these tips, you'll be able to secure the right home for you.
26
Buyers: Yes, Your FICO Score Matters
Your credit score is more than a number; it is a reflection of your financial health and your ability to service your financial obligations. When you purchase a home, it is a number that is as important as your down payment, income, and assets. Our real estate agents don't want your deal to fall through because of a low FICO Score. Understanding the following can help you prepare your credit for one of the most important investments of your life.
How Lenders Use Credit Scores
Lenders view your FICO Score as a measure of your creditworthiness. The higher your score, the lower the fees and interest rates you will pay. That's because the higher the score, the lower the risk you pose to the lender. Conversely, if you have a lower score, you pose a greater risk and will pay higher fees and interest.