Future Home Buyers Beware.....Make you Payments on Time!!! This is so important in today's market.
Are you thinking of buying a home in the Las Vegas, Nevada area in the next year?
Do you know your credit score? Do you know what your Credit Report says about you?
Have you been on time with all your payments in the past 12 months? This means ALL your obligations, auto loans, credit cards, rent, utilities, anything that is reported to the credit bureaus.
I am putting these questions out there to you to as these are some things you SHOULD know Before you start your home search. Start Preparing yourself now! Don't wait until the last minute to get your financial picture in order.
FHA guidelines have certain criteria for YOU the borrower to meet if you want to borrow money to buy a home and these guidelines are more strict than in times past.
I am bringing this up also because there are so many First Time Home Buyers that don't realize how important your credit score AND your payment history is to the lenders and FHA.
I recently have had several Future FHA 1st Time Home Buyers get UN-Approved for a home loan due to having LATES in the past 12 months. Which in turn brings down your credit score. Now, they will have to wait months, most likely a full 12 months since the last late in order to Pre-Qualify for a home loan. Sometimes if there is a letter of explanation that is reasonable to FHA they may still allow the loan to go thru, if it is maybe just one late and your credit score is above 600, BUT there is no guarantee.
Why chance it? START NOW! You can get your credit report for FREE...Go to..Visit www.annualcreditreport.com for a free, no-obligation copy of the report.
Now, your score is not free, but they give you the option of purchasing the score for a few bucks, I would say spend the extra money now to know what it says.
This will give you a head start before you call me or your lender. You will now exactly what your credit report says about you and if there are lates or misreporting, you can start to fix it.
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If you are in the market to sell your Las Vegas home and are not working with a Realtor, call me. I would be happy to help you through the process of selling your home.
If you are in the market for a Las Vegas home and are not working with a Realtor, call me. I would be happy to help you through the process of buying a home.
Dawn Barrier
Century 21 Aadvantage Gold
614 N. Rainbow Blvd
Las Vegas, Nv 89107
(702) 812-4550
Search my website below for homes..
http://www.lasvegashothomes.com/
First Time Home Buyer Credit IRS INFO
