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Home Buying in Graham : Real Estate Advice

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Thu Jun 28, 2012
Gregorio Denny answered:
The lowest median (not average or medium) score is what will be used. If you need his income to qualify (it sounds as if you do) then his credit score will be used and if it's lower than yours, then his will be the one that the loan is based on.

Example:

Your scores:
Experian = 640
Transunion = 658
Equifax = 665

Your median score = 658

His scores:
Experian = 519
Transunion = 530
Equifax = 555

His Median score = 530

His 530 is the credit score that the loan will be based on.
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Thu Jun 28, 2012
Oakwood Homes Of Burlington N.c answered:
Good Day Ameera,

Oakwood Homes in Burlington may have some programs that could assist you with concerns such as this. If you have not purchased as of yet, please contact us at your earliest. 336-228-7844! We would be delighted to help. We work with many customers who are in the same or similar situation to what you are currently in. However we do our best to help them with a New Home.

OakwoodHomesofBurlington.com
r710@clayton.net

Mckisha Ramsey
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Sun May 27, 2007
J answered:
Hello Nakula,

I would advise that you research, find and contract with a good realtor first and foremost. To start with, an important aspect of investment property is knowing appreciation values based on a 5-year period or longer. If a property can hold or exceed values through the current shifting market (12 months) then you can bet you've found a nice property that will benefit you in the future. Your realtor will be able to access information relating to rentals in any specific area you choose. Properties near a school or college is advantagous.

Your choosen realtor can pull data based on sold properties within an .8 mile - 1 mile radious of the subject property to include seller concessions and incentives which impact the final closing price of a property. These comps should include only sold properties over the past 7-8 months. The appreciation analysis should include 5+ years of information. Knowing all the facts of how a property performs is key to making a great investment.

I love real estate!

Best of luck to you
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