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Articles Tagged "Home Loan"

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Ann Arbor, MI | 47 Posts
Belleville, MI | 1 Posts
Buy a Home | 27 Posts
Home Safety | 1 Posts
Homeownership | 3 Posts
Plymouth, MI | 8 Posts
Sell Your Home | 29 Posts
December
16

Credit Score Factors - Remerica Hometown REALTORS

Your credit score is a powerful three-digit number that affects many aspects of your life. Lenders use it to decide whether you get approved for a loan and at what interest rate. If you're shopping for Ann Arbor homes for sale, it's important to know what affects your credit score and the dos and don'ts of improving your creditworthiness. The 5 biggest factors that go into how your credit score is determined are:

  1. Payment History
    Your payment history is the most important component of your credit score and determines 30% of your credit history. This scoring factor is used to forecast future long-term behavior. It looks at whether you can be trusted to repay the loan. FICO scores look at the amount of overall debt you carry, your credit card balances, credit limit, and the relation of your balance to the original loan amount.

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March
11

Spring Home Bidding-Remerica Hometown REALTORS

Home buyers in the Ann Arbor area should get ready for a competitive environment when it comes to buying a home this year. Ann Arbor homes for sale are in demand, and as a consequence, it might help you to prepare for a bidding war. While it's impossible to predict what might happen, having enough options in place could give you an edge in a tight market.

  1. Loan Pre-Approval
    This is the first step to take regardless of whether you expect a bidding war. Buyers see pre-approval as a sign that the buyer is serious, as do agents. Our REALTORS® can suggest mortgage brokers who can help you through this process.

    Remember that pre-approval does not mean you've been granted a mortgage. It means that a lender has looked at your financial situation and has given you an estimate of the maximum loan amount for which you could qualify.

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January
31

Loan Pre-approval
You wouldn't go shoe shopping without knowing your size, or set up a date without having considered what you're looking for in another person. So why would you go house shopping without knowing how much house you can afford? You might have a general idea of your budget, but there's only one way to know your price range for sure, and that's by getting pre-approved.

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