What is a credit Score?

First of all if you do not know what your credit report looks like please visit www.annualcreditreport.com and obtain a copy of your credit report.  Of course they will give you your report only and not your scores.  You will have to pay for the scores however, they will send you a free copy of your existing current report and you can pull it once a year through this company.  You should know your scores and you should know how your creditors are reporting you to the 3 major bureaus.  Let’s talk about the 3 major bureaus.  There are 3 major credit bureaus in the United States who have relationships with millions of creditors across the country and this is why everyone has 3 scores because your creditors (such as your Mortgage, car, installment loans, visa, mastercard, etc…) are reporting you.  These millions of creditors will report how your paying your bills to these 3 major bureaus they also report your address, date of birth, etc….  The creditors that I mentioned above do not always report to all 3 bureaus sometimes they only report to two bureaus.  Who are the 3 credit bureaus?  Let’s talk about who these bureaus the first one is a company called TU which stands for Transunion, 2nd one is Equifax which you see all over the internet, and than there is Experian.  There will be times where say for example your visa company will only report to Equifax but your Toyota dealer that you have your car payment with will report to Transunion and your Mastercard reports to Experian.  As you notice the creditors are not reporting to all 3 bureaus just to 1 bureau.  When you are applying for a mortgage or any other line of credit you really should know what your credit report looks like and what your scores are I cannot stress that enough.  When you are applying for a mortgage or prequalifying for a mortgage the mortgage company will pull your credit report and take the middle of the 3 scores and rate you.  For example, if you have a high score of 789 a middle of 760 and a low of 723 the mortgage company lender, broker or banker will use the middle scores which is the 760 when you apply.  People ask all the time if their high score will get them a better mortgage interest rate and of course it will but remember there will be add on to your rate or the pricing of your mortgage interest rate if your scores are below 720.  That is why it is so important to know your credit score.

Broom Clean

Most purchase agreements contain language that requires a home to be free of trash and debris and “broom clean” at closing. While this language is not precise, the general idea is that you should convey a clean house to your buyers, one in the same condition that you hope to find your new home.

When the movers leave with your furniture, you may even want to consider hiring a professional cleaning service to thoroughly clean the home. It is crucial to leave your house as pristine as possible for the new owners. This includes getting rid of any leftover junk in the storage spaces. When the buyers show up for their final walk-through, they will feel much better about finalizing the sale if everything sparkles. This will set up a positive mood for completing the transaction and help to minimize any disputes at the closing.

Maximize Your Homes Appeal

Sometimes a real estate agent will walk into a home that is basically attractive, yet communicates the feeling that something is lacking. Then the agent notices that all of the drapes are closed, interior lights are off and there is a lot of overgrown shrubbery blocking the sunlight that might otherwise pour through the windows.

A dark house is not as appealing to most buyers as one that is flooded with light. As a part of your preparations to market your home, try to maximize the light in your home. Make sure that all the windows are clean and the drapes are open when the house is being shown. A fresh coat of light paint can do a lot to brighten up the interior. If your house has very dark paneling, and you do not wish to repaint the walls, you may want to consider adding additional lamps. Your real estate agent may be able to provide other simple and cost-effective ideas about how to maximize your home’s appeal. for more tools, tips and prequalification advice, visit: http://www.ratesarehot.com

“Houses and Pets”

Houses and Pets
Many home owners are animal lovers and have cherished pets that are part of the family but you can’t afford having potential buyer’s fingers or ankles nipped by furry creatures during a showing. You have opened the front door to the home only to have a purebred Persian kitten scoot toward the nearest busy street.

If you have pets and are going to put your house on the market, be sure to work out the showing arrangements carefully. It is rare for pets to pose significant problems, but big dogs can be menacing. Buyers or agents may be allergic or even a little phobic about dogs or cats. For more tools, tips advice and to get prequalified for a mortgage visit: http://www.ratesarehot.com

It is difficult to get a buyer excited about your home if he or she is sneezing continuously or unwilling to cross the threshold because your dog is barking away intruders. If your agent knows there might be a problem, they can arrange ahead of time for you to walk the dog, vacuum the cat dander or do whatever is necessary to make sure that the showing goes smoothly.

Make the kitchen in your home a “real asset”

There’s no doubt about it–the kitchen is one of the most important rooms in the whole house for many prospective buyers. Smart sellers will take a close look at how they can make their kitchen a real asset when it is time to sell.

Your kitchen doesn’t need to be state-of-the-art to be attractive. The first step toward enhancing your kitchen’s appeal is a thorough cleaning. This includes the walls, cabinets (inside and out), floors, and appliances. Keep the counter tops as clear as possible of small appliances and gadgets. Consider low-cost improvements which can make a big difference, such as a coat of paint, fresh wallpaper, or new floor covering. Be sure to keep the kitchen sparkling when the house is being shown. This means no dirty dishes in the sink or moldy cucumbers in the refrigerator. This extra effort will pay great dividends! To get pre-qualified for a home loan go to: http://www.ratesarehot.com! It’s quick, free and Easy!

The advantage of buying a home rather than renting!

Are you still writing those checks to your landlord every month to keep a roof over your head, but not accumulating any home equity? If you are still renting because you think you still need a fortune to get into your own home, you should investigate today’s real estate market.

Interest rates are still relatively low, which means that mortgage loans are affordable, with payments potentially in the range of your current monthly rent. Qualifying for a loan was never easier, especially since lenders have increased in large numbers and are competing for your business. Even if you couldn’t qualify to buy a home just a few years ago, you may be able to qualify today. There are a number of government programs and mortgage packages which require small down payments, in the three to five percent range–and that is not even talking about the tax advantages! Think about it the next time you write a rent check.
For more information and to get pre-qualified check out http://www.ratesarehot.com

Advantages of Building an Excellent Credit Score

Advantages of Building an Excellent Credit Score
Credit score refers to your adeptness in utilizing the credit facility provided to you. Building an excellent credit score for yourself is going to indicate to the world that you can skillfully manage your finances via prior planning. Whenever you have built an excellent credit score it acts as prior pre qualification to acquire new loans or financing for your new ventures in your personal or business fronts.
What is Considered Excellent?
FICO is one reputed organization whose credit scoring for individuals is considered quite reliable. It gives a score ranging from 300 to 850 for individuals based on their credit history. A score of 750 or above is considered to be an excellent credit score.
You should understand several of the advantages you can obtain by having an excellent credit history.
For example: It becomes easier to bargain for new loans at a lower rate of interest with an excellent credit score. It is also possible to obtain credit cards with enticing interest rates. Also, automobile insurance can also be sought out at lower interest rates. Apart from low interest rates, your credit score can also help you acquire utilities and other services at a lower price. It means that most of the service providers would provide you the services without taking any initial down payment – not bad.
If you are in the market and searching for a new home and need a mortgage prequalification or mortgage pre approval it will be much easier to obtain one if you have a good credit score. If not, the Mortgage Underwriters will consider you a long term threat and assume that since you can’t pay your other bills you might not be able to afford a home mortgage. Everyone should try to strive towards building a really good credit score. For free mortgage pre qualification advice, please visit http://www.ratesarehot.com.