Atlanta Real Estate - Buying a Home
Thinking of buying your first (or 2nd or 3rd) home?
To ensure that you are able to take advantage of the best and lowest interest rates available, I highly recommend that you take the following steps to ensure that your credit report is accurate and that you understand your credit score at each of the bureaus.
First and foremost, start EARLY!
Review your credit reports to ensure that there are no discrepancies. If there are errors, usually the credit bureaus can resolve in 30 to 45 days.
By law, Georgia residents are allowed a FREE credit report from each of the three bureaus (Experian, Equifax, Transunion) every 12 months. You can contact each one directly OR you can visit:
** Please note that the website above is the official, government-sanctioned site to help consumers obtain their free credit report and does NOT cost anything or require you to sign up for an annual subscription.
Next, I would recommend that you get your credit SCORE from at least one of the bureaus (preferably Experian or Equifax) so see where you stand. Usually you have to pay a small fee to retrieve your score, but according to Clark Howard, Consumer Reporter for Channel 2 Action News & AM750, there are several ways that you can get it for free.
Visit Clark Howard's web site for details on your free Credit Score
After you are armed with your credit score and history, you will know where you stand and can have an informed discussion with a mortage broker or loan officer.
** Please don't have a loan officer pull your credit UNITL you have checked your credit reports. Multiple inquiries (from lenders, insurance companies, etc) on your credit can actually lower your credit score. When you are ready to get pre-approved for a mortgage, the credit bureaus do give you a break when shopping for a mortgage -- usually you can have multiple inquiries during a 3 week period and it won't impact your credit score.
If you have any questions, please don't hesitate to contact me.
And when you are ready to buy your next home, I would be honored to assist you.
For more information on Atlanta real estate, Intown Atlanta Neighborhoods, home foreclosures and lofts and condos, visit:
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