Factors That Decide Your Credit Score
A credit score range between 200 and 800, with scores above 620 are considered desirable for obtaining a mortgage. When getting ready to buy a home learn what factors affect your score.
Your payment history & credit score
Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.
How much you owe
If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.
The length of your credit history
In general, the longer you have had accounts opened, the better. The average consumer’s oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.
How much new credit you have
New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.
The types of credit you use
Generally, it’s desirable to have more than one type of credit – installment loans, credit cards, and a mortgage, for example. For more on evaluating and understanding your credit score, visit myfico.com.
More Home Buying Tips
If you planning to buy real estate in the Lake Norman area, make sure you’re ready. Several steps to getting your finances in order, checking on your credit score, learn ways to improve your credit, follow a lender checklist and explore real home ownership costs.
Find more information about the home buying process, how to find a Realtor, some property search tips, what happens from contract to closing and ask questions at home buyer help
Buyer Tip Videos
Visit my YouTube Channel’s “Home Buying Tips” playlists. There are many helpful home buying videos to watch.
Lake Living
- Lake Norman Information
- Towns on Lake Norman
- Lake Norman Counties
- Waterfront Property Listings
- Boating on the Lake
- Lake Fishing
- Lake Norman Access
- Marinas on the Lake
- Lake Norman Boat Clubs
Lake Towns
Compare the following lake towns and counties on the lake if you are planning on home buying or selling:
MLS Listings by Town
Search other real estate listings
View Lake Norman waterfront homes, properties for sale link showcase or find a property around the lake now.
News in Real Estate
Stay up-to-date on real estate news and home sales trends. Also view the latest Keller Williams’ monthly real estate news video and what’s happening at KW.
Area Useful Links
View Lake Norman links for more information about the entire Charlotte region.
If you are planning to visit or purchase listings in the lake area, the visitors guide will be helpful as well as the transportation guide.
You’ll find family fun; attractions & entertainment, cultural guide, event information, parks & recreation and clubs & organizations. For the latest on local sports from professional to t-ball visit the sports information and golf guide. For those of you that think shopping is a sport, visit the shopping guide. Because you care about your family find medical information and school information.
For additional business information you’ll want to look at NC information and political information. As a result, you can keep up with all the local events whether it’s for fun, business, local or national news on the media guide page.
About Robin
Robin is a licensed as NC real estate agent. Robin works in the Lake Norman real estate market towns of Cornelius, Huntersville, Mooresville, Denver NC, Davidson and Charlotte NC. She will educate you and ensure you are taking advantage of the best market opportunities. Robin will also help you set realistic expectations. Furthermore, she will walk with you through the entire process. Home buyers can trust Robin to help them find a property of their dreams. Home sellers will receive unparalleled exposure to their listings. She will assist her clients in negotiating the best possible price. She will also do her part in keeping your transaction running smoothly! Ask her any general question about real estate in NC and around Lake Norman.
Learn more about Robin, view Robin’s Listings, Virtual Tours, Tour Factory Virtual Tours and Open Houses. Finally, see her Sold Listings.
Thank You for Visiting Your Credit Score
Knowing your credit score is essential when beginning the home buying process. Matching homes with lifestyles is the basis for Robin’s real estate business. Most of all, contact Robin if you have any general questions.