Hobo Spider- One to watch out for in Utah homesLike most people I don't like spiders! I usually have pest control come quarterly to avoid seeing them but from time to time get a little
What Credit Score Do You Need To Buy A House
What Credit Score Do You Need to Buy a House?
Most lenders have a baseline credit score by which they largely make their decision to approve mortgage applicants. On most scoring scales, the maximum credit score is 850, though a score of a perfect 850 is rare. Any score in the 700s or above is considered excellent and will most likely get you a loan with the lowest interest rate. When your score drops into the 600s, it changes, but most applicants will still qualify just fine. A score of 680, for example, is still considered good, but when you get below 660, some lenders might say no. For others, 620 is the line to be considered for their better programs. It all just depends on that particular lender. If your credit score is lower, you may be able to get a loan but the rates and payments will be higher.
If you feel you are close to the credit score needed to get a home loan, but are not quite there, talking to a good lender can help! If you talk to a knowledgeable lender, they can give you step by step advice on what is needed to raise your score to help you get the best home loan possible. If you need a referral for a lender who can walk you through the process on preparing to get a mortgage, CDA Properties can direct you to some great lenders.
Buying a home is still a goal for many, but higher interest rates will make affordability more difficult. Although rates have gone up, if you look at a historical perspective, we still have Excellent rates right now....much lower than we had in the past. Just a half-percent difference can make a difference for some budgets, depending on the amount of the loan you take out. Youâ€™ll want to keep your credit score as high as possible in order to obtain a great rate and keep your housing payments manageable.
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Often when I am showing homes to clients they will ask me, "Do most people look at this many homes?"....worried they are spending too much time or "Is it crazy to buy the second home we have