Lender Talk - Credit
Buying a home might possibly be one of the largest purchases you make, don’t you want the best people to help you along the way? Lisa Jackson talks with Scott Trout from Equity Resources to bring you information about the lending process when purchasing a home.
Your credit score is going to be one of the most important factors when seeing if you are ready to buy a home. Things that affect your credit are the payment history, how much you currently owe, and the length of your credit. If you have at least a 580 credit score there are programs out there to help get you a loan however, the higher the score the better the interest rate you will get.
If you are not quite at that 580 score yet, talk with Scott and he can help you set a plan to get in a position to purchase a home. There are many myths out there about what you need to do in order to boost your credit score. Some key takeaways are do not spend more than 30% of your limit on your credit card, do not close out any credit cards, and if you have had some financial hardships like a bankruptcy or foreclosure you can purchase a home again.
If you have any questions or are interested in our next first-time homebuyer seminar please reach out.
Call Lisa Jackson today at 724-884-5677 or Email: [email protected]
Our Team would love to help you!