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Carolyn Hawkins' Blog

By Carolyn Hawkins | Agent in Port Charlotte, FL

Purchasing a home - your credit score

When thinking of financing a home you need to first check your credit report and find out exactly what your credit rating is.  This way you don't have any surprises, or have to take time out to clean up your credit in order to increase your score to qualify for a mortgage.  
The credit score is one of the items the lender uses to assist them in evaluating to give you the loan or not.
Improving your credit score from 550 to 720 can make a difference in the rate you will pay on the loan.  A rate difference of 2% or more is a tremendous savings for you on your monthly payment.
You can contact the three credit reporting bureaus at: Equifax 800-525-6285, Experian 888-397-3742, and TransUnion at 800-680-7289.

This way you will be prepared and you can request a prequalification letter from the lender and have it in hand when you make an offer on a home - making the process easier for all involved. 

Carolyn Hawkins, Realtor Associate, Allison James Estates & Homes Inc.

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