How Is Your Credit Score As A Home Buyer?

Good morning Ginny. Nancy Herrmann is so right, more agents should be more knowledgeable about credit scores and the impact that they have on the home purchase process.

How are those debt ratios too... hope your real estate buyer does not have the galloping gimmees as the Bear stein Bears reminded Ginny Gorman .

Ginny this is very good advice and it could eliminate major delays later on when trying to anything which requires financing.

Good morning, Ginny Gorman .. good topic.... every credit card company that I do business with gives free credit scores monthly.... there's no reason for anyone who has credit to not know what his/her score is.... and it's important to know and maintain a high rating whether you're thinking of buying a home or not....

Know the score.... is no longer a cliche if you are buying anything on borrowed funds. Scoring is the agreed to mark of the industry which affects all involved

It does cost buyers anything to get a copy of their credit report, and yet many of them fail to find out what scores they have before wanting to go look for a home. This is a great information for homebuyers.

The earlier the better is great advice. Once you have done that get expert advice BEFORE you do anything. Clients often think paying off debt or closing accounts will help and it often hurts. See my blog for top 10 don'ts.

Ginny: It is a very good idea for potential buyers to get a free copy of their credit report, preferably before they start looking for a home, so they have time to correct issues/errors that may be on the report.

It is a good idea to stay on top of credit. Great post, not many likely know this.

Ginny- what a great post thank you for taking the time and sharing. You are 100% correct a credit score cannot be fixed overnight. Rome wasn't built in a day and neither is ones credit score.  It takes time, planning and awareness, so having ones finances in proper order is key when purchasing big-ticket items such as a home, car or boat etc. Thanks again for planting the seed now lets hope people take ownership of their credit scores and hopefully they will grow and grow.

Truly amazing, Ginny, how many people don't check their scores or reports ever and when it's free to do so.

Ginny, it is shocking how many wanna-be homeowners have no idea what their credit looks like. 

Ginny Gorman  -- We are on the same wavelength with this one.  Have been developing a post on same topic as it is SO important to understand the ramifications of having bad credit vs the benefits of good credit. Very well done.

Ginny Gorman missed you at the meet up.

Knowing our credit score is now more important than ever.

Good news is, many credit card companies now do have this as a 'special service' to their clients.

And credit scores change all the time! Mine was just reduced twice - the first time because I don't use enough charge cards and the second time because I use my existing charge cards too often.  geez.

Many buyers  know little about the impact of scores on their ability to purchase.  They feel that if they can pay a rent then they should be able to buy a home

Good morning Ginny, I hope home buyers will read this post . Congratulations on the feature.

Know too that when a lender pulls credit, it is likely to be lower than the score that consumers get from the free pulls as we have learned.

Great Post, Ginny Gorman . Many people do not keep an eye on their credit score and history. Many think that looking at it will lower the score. It does not and is an early way to pick-up on potential problems brewing.

Thanks for sharing,
Bruce