Ray Fernandez - Guaranteed Rate

If you're waiting for home prices to drop and interest rates to decrease, you may not have to wait much longer. Instead of waiting for the perfect time, take action and start working towards your homeownership goals. With the right mindset and preparation, you can make the dream of homeownership a reality.

Expert Panel Expects Home Prices Will Grow At A Steady Pace Starting In 2024 The largest declines in home values are forecast in expensive California metros.

Mortgage lenders consider your entire financial situation when applying for a loan but your FICO score can take center stage. Your credit scores indicate to lenders how likely you are to repay what you borrow. If you have a bad credit score or, even worse, no credit history at all, it will be very difficult to qualify for a mortgage.

https://www.dezlending.com/credit-repair

Here is some useful information on establishing and maintaining good credit scores:

Pay your bills on time, especially mortgage or rent payments. Apart from extreme circumstances like bankruptcy or tax liens, nothing has as much of an impact on your credit as a history of late payments.

Don't max out available credit on credit card accounts. This indicates you're having problems managing your finances.

Don't apply for too much credit in a short amount of time. Multiple requests for your credit history (not including requests you make to check your own status) can have a negative impact on your score.

Reduce the amount of debt you owe. On credit cards, keep your credit balance below 50% of the available credit amount to maintain your credit score, or below 30% of the available limit to improve your credit score.

Periodically check your credit history for errors. If you would like a free copy of your credit report, please contact me.

Has anyone asked you detailed questions about where you want to live and why? If you've been exploring the idea of owning a home and haven't gotten a thorough analysis of what you want compared with what you can afford and what your long-term plans are, let's do it!

It doesn't take long and you don't have to commit to anything. A lot of people find this informative and helpful. Let's talk!