Top 3 Questions to Ask Before Purchasing a 2nd home1. How Much Will a 2nd Home Cost?Besides sales price, you should factor in mortgage, property taxes, insurance, utilities and maintenance.
Annual Credit Report
3. You need to check your credit reports and correcting errors. Also, know your FICO score.
As soon as you think about buying a home please, please, request a free credit report and comb through for errors and omissions. If there are errors and omissions I strongly urge you to have them corrected. You can get a free report from each of the three major credit bureaus namely: Experian, TransUnion, and Equifax. The web address is AnnualCreditReport.com. Be aware that a mortgage lender goes through your credit report to see how well you manage your finances. A report without omissions or errors could be the differences between a low and high-interest rate. Do aim for a high FICO eg. 640 or higher but you can also get a decent interest rate with a score of 580. FICO score is a measure of consumer credit risk. Lenders use it as a tool to determine your worthiness for a loan. Please bear in mind that usually, the higher the FICO score is the lower the interest rate.
Latest Blog Posts
With Orlando Florida being the number one Vacation spot in the world, Investors are working hard to reserve properties now! Central Florida has Millions of Vacationers coming down throughout the,