When buying or selling a home, I can be a powerful asset for you.
The main focus of my services is to help and educate homebuyers and sellers so they understand from the beginning the entire process of buying and owning a home.
All agents are not the same. As in every profession there are those that excel and are committed to excellence, and those that are not. I have what it takes to make a difference on all your real estate needs.
Now, I would like to talk about What is the Credit Scoring Process When You Purchase a Home?
A technique known as “credit scoring” is used by lenders to assist them decide whether to grant you credit and how much to charge you for when you first apply.
When you apply for a mortgage, the lender or creditor will request your Equifax, Experian, or Trans-Union credit report and score.
They will obtain your reports and ratings from all three. Your “credit worthiness” is determined by comparing your credit history to a formula known as the Fair Isaac Model. Fair Isaac calculates your score based on a number of parameters, including: your history of paying bills on time, the type and quantity of accounts you have, late payments, debt collection efforts, unpaid balances, and account ages.
Your FICO® score is the result of those calculations as a whole. The bulk of FICO® scores fall in the 600s and 700s, however scores can vary from 300 to 850. A FICO® score of 720 or higher can earn you an even better mortgage rate, saving you thousands of dollars. A score of 700 or above will get you a very good rate. You will have a very tough time acquiring a loan if your credit score is below 580, therefore you should work to raise it prior to thinking about purchasing a home
It takes time to fix errors on a credit report in order to raise a credit score, and you are responsible for fixing any errors that might be present. To achieve this, you must routinely request copies of your credit report, get in touch with the major credit reporting agencies, and send letters of protest to any inaccurate information.
Did you know that there is a Federal law that requires each of the three nationwide consumer credit reporting companies –
Equifax, Experian and TransUnion – to give you a free credit report every 12 months if you just ask for it.
How can you order your free annual credit reports?
The three nationwide credit bureaus have a centralized website, toll-free telephone number, and mailing address, so you can order your free annual reports in one place.
Do not contact the three nationwide credit bureaus individually. The following are the only ways to order your free credit reports:
You can visit AnnualCreditReport.com and follow directions
If you prefer, you can call 1-877-322-8228
Or you can complete a written Annual Credit Report Request Form and mail it to:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
Only one website: www.AnnualCreditReport.com — is authorized to fill orders for the free annual credit report you are entitled to under law.
When you are ready to explore possibilities to purchase your next home,
Give me a call for guidance to obtain a list of approved mortgage lenders who are willing to help you with the best rates possible.
Always consult with your real estate agent about your home inspection results and the options you have inside the sales contract that you’ve signed.
Please don’t hesitate to call and ask me any questions you might have. This process is all about you and your needs. Real Estate is a big investment and I understand that. One thing you will get with us is a personal relationship, In the end, that goes a long way.
To get started contact Debbie Davignon at 508-989-0972
or email DavignonSouthCoastHomes@gmail.com