Steve Vernon
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Steve Vernon has lived on the Eastside for more than 20 years. He utilizes the latest listing technology that proactively brings relevant information to home buyers. He studies the market to keep in front of market trends and sales data. With his extensive real estate experience and negotiation skills he gets what his clients want. Whether its getting a property sold or finding the perfect fit in a new home, he will get it done!
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Your credit score is now the most important factor in determining how much house you can buy, so if you are in the market for a new home, you need to understand how it affects you.
In order to make it easy for mortgage companies to determine the risk of lending to you, they are using a system called credit scoring (also called "FICO" scores).
When lenders look at your credit report, they can instantly see how much debt you have, how reliable you are with bill payments, and if you've had any bankruptcies within the last several years.
There are a few easy ways to make extra principle payments that can save you a ton of money in interest expenses and get you mortgage-free sooner than you thought possible.
The results of this simple strategy can save you a fortune and drastically reduce the length of your mortgage.
As an example, if your monthly mortgage payments were $734 dollars a month, but you rounded it up to $800 per month, you would save more than $48,000 in interest payments, and reduce the length of your mortgage by 7.5 years!
How to Avoid a Money Pit: Be on the Lookout for these 6 Warning Signs That Could Mean Expensive Repairs.
Many people think that serious defects in a home are easy to spot, but the truth is, often the most serious and costly problems can only be detected upon very close inspection.
When you are considering buying a home, look for the following six telltale signs of serious problems.
Make sure you are confident that both water systems: the one that brings fresh water in and the one that takes sewage out are functioning well before signing on the dotted line.
The best way to avoid this is to get pre-approved for a mortgage so you know exactly how much you can afford.
Usually pre-approvals are free.
You should always have a professional inspector look at the home before buying it, otherwise you could be looking at huge repair costs later on.
Read this guide to avoiding a money pit.
Get a mortgage professional to help you go over and prepare your credit file before you buy a home.
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