There are a lot of misconceptions about credit scores. Do you know the 5 things that matter?
Payment history (35%) – This is your track record of paying back what you borrowed. Accounts in collection, late payments, and bankruptcy are bad; paying on time for a long period is good
Amounts owed (30%) – This is based on the total amounts you owe, and the ratio of what you’re allowed to borrow to what you currently owe, called your “utilization ratio.” Maxing out your credit hurts it; keeping a lot of unused credit available helps it.
Length of credit history (15%) – This considers the length of time each credit account has been open, and when each account was last updated with payment or usage info. Credit accounts with “gray hair” are a plus.
New credit (10%) – This includes recent inquiries and requests for credit. Regularly applying for new credit cards or other loans will cost you.
Types of credit used (10%) – There are all kinds of credit out there, from revolving (credit cards) to installment (car and home loans.)
Want to know a bit more…Check out this great article I came across – Click Here
With over thousands of transactions, we have learned a thing or two, and we work harder to make sure that those lessons learned work to your benefit. So, give me a call at 317-625-0655 when the time is right.
Have you ever thought about investing in Real Estate? Thought you had to toss that pipe dream out the window because there wasn’t enough capital around? This may be the perfect time to revisit this dream of yours. With a downturn ⬇️ in the stock market just around the corner, why not put your hard-earned $$$ money $$$ into Real Estate? I have had a number of my clients put their IRA funds into Real Estate.
Here’s something to muddle over …. Take tax-free capital and invest it in Real Estate. You can then defer the rental income and capital gains far into the future. As a bonus, you get to compound your gains without the pesky (you know who) interrupting your investment strategy. Generally, you only pay taxes when you start taking distributions from the IRA.
Now, not all IRA’s are set up to do this. However, “I know a guy” or a company actually. They’ve helped a number of my clients to buy and sell real estate to enhance their portfolios. If you’d like to learn how this could work for you, simply give me a call at 317-625-0655 or shoot me an email. Let’s make that pipe dream a reality!
Every Realtor has their favorite lender. And I get that having a strong relationship with a lender makes a positive difference for a buyer. But… I was in the mortgage biz for 17 years and have a lil’ deeper insight into what makes a Loan Originator an “ok one” versus a “really awesome one”. And since buyers are in the process of making the biggest purchase of their life, being ok is just not good enough. Not for any client of mine anyway.
Here are 5 KEY Reasons why our recommended lenders will make a difference in your life!
- They’re really good at what they do. They’re experienced and they know their stuff! Which means they’ll help you pick the best loan product for your specific situation
- They’re solid people. They treat people right and the costs are always fair and straightforward
- They communicate – good or bad news. It makes no difference. They return phone calls / emails / text messages. They keep you in the loop
- They’re friendly. Getting a mortgage can sometimes feel like going to the dentist, so they’re perspective and sense of humor can keep your spirits up
- They go the extra mile. This past weekend showed up just one more example. Mike Wickham with Caliber Home Loans stayed til 7 on a Friday night to get a pre-qualification letter out so one of our clients could make a good offer. (Btw, they got the house! How cool was that?!) And Alan Pressley with Mortgage Masters of Indiana went into the office Saturday afternoon to help another of our clients get in position to win a bid. I think when the dust settles, we’ll have won that one too!
There are 5 key reasons why our lenders can help you win over other bidders. After all, it doesn’t do you any good to find THE right house if a lender is going to drop the ball on you, now does it? To learn how you can get the house you really want, contact our recommended lenders and you’ll go to the front of the line!