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Credit Score in New York : Real Estate Advice

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Activity 23
Fri May 26, 2017
You may not need credit restoration. Look closely at your credit reports. Do you have at a minimum 2 open and revolving tradelines (credit cards)? If you don't hurry and get another secured credit card. Revolving Credit makes up to 65% of your credit score. Without revolving credit you aren't maximizing FICO's scoring modules. ... more
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Tue Aug 2, 2016
Markzjordanz answered:
No credit check, 1 percent interest 30 year fixed, 4.5 proof of funds in which u can use vet status or 401k, the property has to be appraised at 350 k and up. 30 day close, 8037576801
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Sat Jun 11, 2016
Tristar Cred asked:
Every quarter our company have a drawing for free service. they're a great company who believes in giving back.
I try to let people know about their credit repair and business credit as…
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Mon Apr 18, 2016
Queensapartmentrents answered:
This is a big and great decision and you're taking the right steps to know where you credit stands.

I would advise first to pull your credit from an organization such as "Credit Karma", then analyze the 3 reports from Experian, Equifax and Transunion. Once you clear this step, you're now ready to meet a loan officer to check on all requirements. Depending on what you are purchasing, the loan officer will tell you what will be an acceptable credit requirements.

Hope this will help you
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Tue Feb 9, 2016
Jonathan Lahey answered:
I Guess Trulia program only helps us buyer and seller to communicate best advertise with our properties. Leads can be said to your choice which one with you want to qualify . Thanks
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Sat Dec 12, 2015
Tristar Cred answered:
Did you know Your FICO is made up of these five key factors?
1. Payment history (35%)
2. Credit utilization (30%)
3. Length of credit history (15%)
4. Types of credit in use (10%)
5. New credit (10%): Applying for too many credit accounts at once can bring your score down. Each new credit application results in a new credit penalty, so try to avoid applying for multiple accounts in a short period of time.
I suggest getting your credit report looked at by experts. analyze credit for free.
We give you honest and the best personal advice for every unique situation. We’re NOT your average credit repair company. We’re a financial solution company who offers credit repair.
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Tue Nov 24, 2015
Rafael asked:
I will be attending school full-time and utilizing my Montgomery GI Bill so I am looking for something in the $1000-1400 range. Thank you
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Tue Nov 24, 2015
thinz answered:
Based on your range of 7-10 years, it sounds like you may have been foreclosed and then got into trouble after restoring your credit??? But if you're a homeowner again, does than mean you're in foreclosure again? Need to be specific. Restoring credit from a short sale can take less than 2 rather than be foreclosed or do a deed in lieu, a short sale minimizes your credit impact.
You need to focus on manageable secured loans to build your credit you take out simply for the reason to (not spend the money) but pay back in a short time as scheduled. Will work wonders for your FICO. Tom Hinz
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Tue Nov 24, 2015
Adrienne asked:
We need an expert and experience real estate agent to help my mom and I. Thank you
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Wed Apr 23, 2014
ryateslenders answered:
Sounds like your in great shape to get approved for a loan now, I know several lenders that can go down to a 580 credit score for FHA... If you need any help email me or visit our site ... more
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Wed Apr 23, 2014
Grace Walker answered:
Hi Barak,

I'm a commercial real estate agent in New York City. Even though your credit is very good, you may be able to increase it to 800 to qualify for the lowest interest rates.

Different credit agencies may have varying scores depending on how they calculate items within your credit history. Both 770 and 789 are very good scores and fall within the range of 740-800, which is classified "Very Good". Obviously, you have managed your credit excellently as it is already very good. However, you may be able to tweek it to raise it a few points to 800 to get the very top interest rates by doing the following.

First, if you haven't already done so, it's a good it's a good idea to look at your credit reports from all three reporting agencies, Exerpian, TransUnion and Equifax. The U.S. government requires that you can get one free credit report a year, so you can request a free report online. Be sure you use the link below because when you google it, there are so many imposters, it's hard to figure out what is what.

Also, myfico has suggestions how to improve credit. Someone with your score is no doubt doing practically everything right, but there are a few tips, such as not closing old credit card accounts (they show longevity of credit) and maintaining small balances that you pay off monthly. Also, it's a good idea to pay off all store accounts (e.g. Macy's) as they lower your score slightly. Here are some myfico pages that may be of help.

Hope this demystifies the credit score process and helps you get a better score, Barak.

Please let me know if I can be of further assistance.

Grace Walker
Commercial Real Estate Agent
... more
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Wed Apr 23, 2014
Charles Badalamenti answered:
I would start by applying for secured credit cards with your bank and keep you balance at a third of what your credit line. Also, try and keep a running line of credit and not pay your monthly bill all off in one shot. The banks want to see that you can maintain a line of credit. This will boost your score significantly. ... more
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Wed Apr 23, 2014
Jean Paul Ho answered:
GET UP TO $ 65,000.00 IN GRANT

Why rent? Is there anyone giving money to rent? Any tax deduction? Rent KEEPS going up in Brooklyn? Own CHEAPER than renting - You are in a fixed income- You NEED a FIXED mortgage! While building EQUITY? Find out if you Qualify for up to $ 65,000.00 in grant money (You do not have to repay-subject to condition & terms) Would you hate to find out that you qualify AFTER closing on your house & it's too late? How would you feel paying more than everyone else? We have helped MANY..... family OWN when they thought that they can only RENT!!! START the New Year right & make a difference for your family! Leave a LEGACY to your family!! YOU HAVE NOTHING TO LOSE BUT $ 65,000!

Free Homebuyer's Seminar
3:00 PM. Sunday 4/27/14.

Come find out:
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Tue Feb 25, 2014
Paula Rosario answered:
I filed chapter7 and have been discharged already. I have gotten 2 credit cards that I pay off monthly and a secured loan that I pay bi weekly.
0 votes 5 answers Share Flag
Fri Mar 22, 2013
Grace answered:
Go to annualcreditreport. com website - it is a legit site. It is the government site for free credit report
0 votes 8 answers Share Flag
Wed Oct 24, 2012
Trulia Miami Beach answered:
Hi Braham,

Do you have a listing available on Trulia so that we know what you are referring to?

Ali, Community Manager
1 vote 1 answer Share Flag
Thu Sep 27, 2012
Gene Neal answered:
Yes you can receive an approval. If you need information on how to receive a pre approval please reach me at
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Fri Jan 6, 2012
Tomer Ahituv answered:
Hi Catina,

As many others have correctly answered, credit is important but there are many other factors that will also impact your ability to qualify for a mortgage. It is also correct that the first step to making a new home purchase is to prequalify with a lender. Speaking to a lender first is crucial in order to educate yourself about the mortgage process, determine what you can afford and how that will translate into a monthly mortgage payment. This will ensure you are shopping in the correct price range and obtain a mortgage that you can comfortably afford. A written Pre-Approval will also instill confidence with brokers/agents and sellers that you are a serious buyer who is "mortgage-ready" and can close fast. Knowing that you are well-qualified and prepared to close immediately will motivate realtors to work harder for you and find a home that meets all of your criteria. Your offers will be taken more seriously, you will have more leverage in negotiations and you will be able to shop the market aggressively in order to find your dream house.

I am a Licensed Mortgage Professional in the Private Client Division for Franklin First Financial. We are a national direct lender specializing in residential mortgages and headquartered right here in New York. I can provide a mortgage in Atlanta, GA or anywhere else in the country. We offer a free comprehensive mortgage consultation including a free credit check, credit repair and restoration services (if necessary), and a free formal written mortgage Pre-Approval which will put you in the driver's seat on the path towards home ownership. We can meet in person at my local office or do everything by phone/fax/email/overnight mail if that is more convenient for you. First-time homebuyers are one of my specialties and I will guide you through every step of the process to ensure you are always comfortable and well-informed. Feel free to contact me directly when you are ready to get started. I look forward to hearing from you!

Tomer Ahituv
Licensed Mortgage Professional
Private Client Division
Franklin First Financial, Ltd.
538 Broadhollow Road, Suite 405
Melville, New York 11747
Office: 646-504-2333
Fax: 631-393-4690
NMLS#: 31191
... more
1 vote 8 answers Share Flag
Fri Jan 6, 2012
First Last answered:
One option is for your friend to find a guarantor who will, in essence, guarantee the rent payments. Usually this is a family member (parent, rich aunt) or an extremely close friend.

It's a risky proposition for the guarantor, because your friend is not a good credit risk and is, actually, not likely to be a perfect payer of rent. This kind of thing can happen because of medical bills, unexpected job loss or other events outside of the person's control, so it's not always the person's fault, and I'm not assigning blame here. But whatever the reason, the effect is the same--poor credit usually leads to poor rent payment history, in my experience.

Another idea is for your friend to find a room mate with good credit who is the actual renter of the apartment. Unless your friend has a high income--40 times the rent is not an uncommon expectation for landlords, some do accept less--your friend is going to need a room mate anyway, even if she had sterling credit.

Out-of-town agent advice is not going to help you here. I know of a case where the renter offered to put 6 month's worth of rent up as a security deposit, but the landlord still refused the tenant. The only way to get in was for his father to serve as guarantor.

I also believe your friend needs a savvy broker who will screen apartments for the most flexible landlords. Brokers get lists of apartment vacancies and insider information that is distributed by email to brokers only, it's not available to the general public (at least not at all easily). I charge one month's rent as my fee. Many people rent in Manhattan without brokers but brokers are well worth the money for most people.

Karla Harby VP
Charles Rutenberg Realty
New York City
... more
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