Monthly Home Buying Tip Home Buying Credit Tips: A credit report is an accumulation of your personal information, your financial transactions, and payments histories on your accounts, closed or open. Your credit score is formed on this information and is used to determine whether you are a candidate for a home loan, credit card, or other services. So the higher your score, the less risk you represent to the creditor i.e. mortgage company. So how do you know if your credit score is at its highest? Here are some tips that will help. 1. Make sure you always pay on time or before the payment is due. 2. If possible make payments larger than the minimum due. 3. Keep a minimum of accounts and maintain a long standing and good relationship with them. The above practices will keep your credit score looking its best. Not sure what your credit score is? Obtain a copy and review all the information on it and make sure its correct . About 70% of consumers identify errors. These errors can prevent your access to additional credit, the preferred interest rate, and even a new job! You can obtain a free credit report, I per year from each of the three major reporting agencies. Log on to www.annualcreditreport.com for information. Previous Month's Tip Why A Home Inspection? A home inspection will give you a comprehensive look at the overall condition of a home. Even though it cannot identify every problem, it can uncover problems that need to be addressed before you buy a home that may need costly repairs after the purchase. If you choose to do a home inspection, pick an inspector that is trained and qualified. Some companies charge a flat fee while others charge by the square footage of the home. The Buyer will be responsible for the fee because it will solely benefit the Buyer. Some Sellers will do an inspection before placing their home on the market to address any problems and thus makes the home more marketable. Make sure that your purchase contract is contingent on the final outcome of the inspection. Here are the benefits of a home inspection...... 1) Evaluates the actual condition of the building, construction, and mechanical systems of the home. 2) It will help to identify the things that need to be repaired or replaced. 3) The inspection will also estimate the life expectancy of systems and appliances along with the roof, hot water heater, and AC units. So is the Home Inspections worth the cost for the peace of mind knowing a surprise repair will be covered? We think so.
Rainewhite Realty Fort Walton Beah, Fl.
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