Most Buyers know the Importance of the Credit Score when having to secure a mortgage. It’s that three-digit number (typically ranging from 300-850) that is used to predict the likelihood that you’ll pay your obligations on time. Do You Know The 5 Things That Matter?
Payment history (35%) – This is your track record of paying back what you borrowed. Accounts in collection, late payments, and bankruptcy are bad; paying on time for an extended period is good
Amounts owed (30%) – This is based on the total amounts you owe and the ratio of what you’re allowed to borrow to what you currently owe, called your “utilization ratio.” Maxing out your credit hurts it; keeping a lot of unused credit available helps it.
Length of credit history (15%) – This considers the length of time each credit account has been open and when each account was last updated with payment or usage info. Credit accounts with “gray hair” are a plus.
New credit (10%) – This includes recent inquiries and requests for credit. Regularly applying for new credit cards or other loans will cost you.
Types of credit used (10%) – There are all kinds of credit out there, from revolving (credit cards) to installment (car and home loans.)
With thousands of transactions under our belt, we have learned a thing or two, and we work harder to make sure that those lessons learned work to your benefit. So, give me a call at 317-625-0655 when the time is right.
Getting these types of reviews from clients warms my heart and never gets old. 😊 I’ve been in the housing industry my entire career. And one may be surprised to hear… I still wake up every morning, wanting to go to work. I like real estate. Actually, I love it. I love giving people keys to their new property. I love helping people improve their financial future and being a part of their dreams.
I am truly thankful that my career has afforded me many, many opportunities to learn and sharpen my skills. Over the years, I have stood in the shoes of the multitude of people involved in the buying process. A Buyer / A Seller. An Appraiser. An Inspector. A Builder. A Contractor. A Lender. I bring a lot of experience to my clients. If you have a question, give me a call. I can help!
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MIBOR just released its’ Central Indiana sales numbers, which includes the following counties: Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jackson, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam, and Shelby.
From a year ago this time –
- Closings are up 17%
- Inventory is HALF of what it was
- But New Listings now rising
- Prices up 19% from a year ago
- With avg sales price 99% of the asking price
Specifically, in Marion County,
Looking for Specifics in your County, Email Bob at Bob@indyschoice.com. Let me send you that data.