When purchasing your home, you want your credit to be in the best condition possible.  You may have to take some time preparing yourself to pre-qualify for a mortgage.  Your credit and your income determine the amount you will qualify for.  So take that time to clean up your credit as best as possible.

 

First you need to know your credit score and what types of things are on your credit report.  It is true that some things will fall of your credit after 7 years and the older the item is, the less it affects your credit.  With that being said, you should make sure that you continue paying all credit accounts and bill regularly and on time.

 

You should pay down any credit cards that you have, but don’ close any of them.  Closing accounts can negatively affect your credit limit.  On the other hand, you should not open any new credit accounts because that raises your credit to debt ratio.  This includes co-signing for other people which is another story in itself.

 

Make sure you contact the credit bureaus if you have any dispute of items on your credit.  You don’t want to pay off money you don’t owe or end up overpaying.  The next thing that you will have to work on is saving up money for the down payment of your loan and you are on your way to owning a home!

 

Mary Kent
Five Star Real Estate

 
Posted by Mary Kent | Grand Rapids to the Lake Shore on 05/20/2013 08:04 AM   Comments (3)   Mortgage in the ActiveRain Channel  
Generate short URL

5 Mistakes First Time Home-Buyers Make
05/13/2013
share
Owning a home for the first time can be the happiest time of your life, and the most stressful if you don’t know what you are doing. Here are the 5 biggest mistakes first time home buyers make that can also become very costly. 1. Not… more
Short Sale Route for Sellers 4 Grand Rapids Short Sales
03/26/2011
share
Exploring the Short Sale from Start to Finish. What sellers and buyers need to know : Your home is now listed and active on the MLS. The agent has created a marketing plan and priced the home aggressively with in market value range. The offer and… more
Short Sale Route for Sellers 3 Grand Rapids Short Sales
02/14/2011
share
Exploring the Short Sale from Start to Finish. What sellers and buyers need to know : Completion of the Short Sale Package: The agent and the seller work close to assemble the proper paper work (short sale package) these documents… more
Short Sale Route for Sellers 2 Grand Rapids Short Sale
01/13/2011
share
Exploring the Short Sale from Start to Finish. What sellers and buyers need to know : So you've consulted with your lender and possibly a non-profit home counselor and decided you want to proceed with the short sale. Where do you start? 1-Meet… more
Short Sale Route for Sellers Grand Rapids Short Sale
11/22/2010
share
Exploring the Short Sale from Start to Finish. What sellers and buyers need to know : Considering a short sale and not sure where to start? You should speak to a non profit home counselor or a trusted real estate professional that has… more
Abestos in The Home
11/19/2010
share
Purchasing a home can be filled with excitement and anticipation for homeowners. It can also be a time where additional responsibilities are acquired. Having the assistance of a reliable and honest agent will make all the difference in when… more
Grand Rapids Neighborhood's | Heritage Hill
11/18/2010
share
Heritage Hill is one of the largest urban historic districts in the country. It was the first "neighborhood" of Grand Rapids and is adjacent to downtown. Its 1, 300 homes date from 1848 and represent over 60 architectural styles. These were the… more
Lake Michigan Summer 2009
06/17/2009
share
This photo is the property of Mary Kent, Five Star Real Estate 1545 68th Street Suite 201, Grand Rapids MI 49508 and can not be duplicated without permission. more
What's your favorite place?
05/16/2009
share
I find myself glancing at the cities you all are from and thinking… uhhmmm… what's your neck of the woods like? (sorry Mr. Al Roker! ) So hey… I'll go first! My favorite place… drum roll… GRAND HAVEN, MICHIGAN is a wonderfully inviting… more
 
Temp%20headshot Rainmaker_large

Mary Kent | Grand Rapids to the Lake Shore

Grand Rapids, MI

More about me…

Five Star Real Estate

Address: 4942 Parkway Place, Suite A , Grandville, MI, 49426

Office Phone: (616) 915-3987

Cell Phone: (616) 915-3987

Email Me

All things about and related to Western Michigan View Mary Kent's profile on LinkedIn Mary Kent Homes, Greater Grand Rapids MI Real Estate | 


Listings

Links

Archives

RSS 2.0 Feed for this blog