![]() | |
![]() | |
![]() |
Real Estate Information |
|
![]() |
Credit Help: Buying Real Estate -- Not the Same as Buying Cars
Credit for Buying Real Estate is Different than Credit for Buying Cars Forget what you've been told about credit. You may be shocked at some of these tips because this information runs contrary to what other so called experts tell you. Qualifying for a real estate purchase requires different credit than automobile financing or retail credit. Common Credit Myths 1. You need to pay off your credit cards Credit Facts 1. Paying off your credit cards lowers your credit score Why not pay off credit cards? Because paid off credit cards do not compute in your credit score. Real estate lenders like to see open, active accounts with low balances. Why not close accounts? Closing accounts before the payoff often costs consumers more money because credit card companies raise interest on closed accounts. You can buy real estate with poor credit, but you will save thousands in loan costs if you maintain good credit. A bad credit report leaves homebuyers with sub-prime loans which have higher point charges, prepayment penalties, and higher interest charges, which therefore cost more money. For instance, a mortgage loan of $150,000, 30-year, fixed-rate mortgage, interest rate of about 5.72 percent costs around $870 a month; poor credit scores raise the interest rate over 9 percent and the payments over $1,200. As you see from these payment differences, good credit means that you can finance a more expensive house with the same income, or save $330 each month. Credit Requirements for Mortgages Credit needed to buy real estate is not the same as good credit. Besides your credit score, mortgage lenders consider your debt-to-income ratio and other credit matters, unlike other credit grantors. Your debt-to-income ratio is the comparison of mortgage payment, including taxes, interest, and insurance to your total gross monthly income. Real estate lenders also consider your employment qualifications and your overall debt ratios. Understanding the difference between good credit and the credit needed to obtain real estate financing helps you buy houses! (c) Copyright 2004, Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
MORE RESOURCES: The dreaded Zillow ban is finally here. Here's what you can do Business Insider Zillow’s now enforcing its listings ban: 3 things to know Real Estate News by RealEstateNews.com Alexandria Real Estate: The REIT That Nobody Seems To Want (But Maybe Should) (NYSE:ARE) Seeking Alpha Colorado mountain town real estate markets see surge of new listings, price drops — but is it a buyer’s market? SummitDaily.com Real estate transfers in Adams County from June 16-20, 2025 Muddy River News Post-Gazette journalists win national awards in coverage of real estate, religion Pittsburgh Post-Gazette NEUBERGER BERMAN REAL ESTATE SECURITIES INCOME FUND ANNOUNCES DECLARATION OF REGULAR MONTHLY DISTRIBUTION PR Newswire Unlocking Japan's Dormant Real Estate Potential: Marubeni and Dai-ichi Life's Bold Venture - AInvest The Flathead’s Frozen Real Estate Market Begins to Thaw Flathead Beacon Here are businesses on the move in Marin, Solano and Sonoma counties The North Bay Business Journal Real estate business opens new Fleming Island office The Ponte Vedra Recorder Crow Holdings Capital: Specialty real estate surges as investors chase demographic-driven demand Private Equity Real Estate | PERE 'Keep it moving': HGTV cancels TV show hosted by Georgia couple after 4 seasons Savannah Morning News Nuveen: Leading the way in a changing real estate market Private Equity Real Estate | PERE Zillow readies for battle with Compass Real Estate News by RealEstateNews.com Egypt Sherrod Shares Heartbreaking News About HGTV's 'Married to Real Estate' Country Living Magazine The Face of Real Estate in West Sonoma County pacificsun.com Texas Employees commits $483 million to real estate, private equity, infrastructure Pensions & Investments Alexandria Real Estate: Behind Fantastic Dividends, 3 Key Facts To Understand Its Resilience Seeking Alpha Real Estate Transactions, June 30 edition Hopkinton Independent LaSalle on real estate: the world’s simplest, most complicated asset class Private Equity Real Estate | PERE Rockpoint: Back to basics: Real estate’s next chapter will demand local insight Private Equity Real Estate | PERE Seattle City Employees slates €60 million for European real estate fund Pensions & Investments NYLI CBRE Real Estate Fund Q1 2025 Commentary Seeking Alpha Brooks Ballard International Real Estate Celebrates Transition, LGBTQ+ Owned Business of the Year Award Recognition Business Wire AXA IM names real estate heads for North America and Asia-Pacific Pensions & Investments Two local real-estate firms merge to form Venture Fox Realty Group The Altamont Enterprise Logistics and warehousing dominate Lehigh Valley commercial real estate market Lehigh Valley Business Rosa Hawes, trailblazing Dayton real estate pioneer, civil rights advocate, dies at 94 Dayton Daily News Hyatt to Sell Playa’s Real Estate Portfolio Daily Lodging Report Real Estate: June 16 to June 20 Newport This Week Real Estate Transfers: June 30, 2025 The Owensboro Times A Long, Winding Path to Selling Real Estate in the Hudson Valley The New York Times Form 424B3 Forum Real Estate Income StreetInsider In a gridlocked market, it’s time to take assumable loans seriously Real Estate News by RealEstateNews.com NMPERA reveals $20m additional commitment to real estate fund Private Equity Real Estate | PERE Real estate tax deadline today Butler Eagle Hyatt to offload Playa real estate, remain operator HOTELS Magazine EMS Commercial breaks down how experience translates to savings when investing in real estate WMAR 2 News Baltimore HGTV cancels Atlanta-based show ‘Married to Real Estate,’ hosts say Atlanta News First Buyers and sellers win in this unique real estate market in the Valley Wet Mountain Tribune Neuberger Berman Real Estate Fund Maintains Steady Monthly Income With $0.0312 July Distribution Stock Titan Apple spends $517 million on Bay Area real estate in a single week San Francisco Chronicle 20 Indispensable AI Tools for Real Estate Agents HousingWire Real Estate City of Oakland, CA (.gov) Amanda Carter: Premier Hervey Bay Real Estate Agent Redefining Client Success and Community Engagement GlobeNewswire Radio Real Estate 6/28/25 My Bellingham Now The Best Real Estate Agent in Douglas Lake: Katelyn Warren ACCESS Newswire Mansion in The Ridges hits the market for $9.8 M Las Vegas Review-Journal Black Opal Insurance Launches Investor-Focused Property Insurance Platform for Real Estate Pros Yahoo Finance Jewish real-estate investors look to Israel amid Mamdani victory The Jerusalem Post Major Last-Mile Deal: Town Lane Acquires Massive 2.7M SF Industrial Portfolio in High-Growth Raleigh Market Stock Titan Berkshire region real estate sales – June 27, 2025 The Berkshire Edge |
![]() |
![]() |
![]() |
RELATED ARTICLES
Hurricane Katrina And The Impact On Real Estate Prices In the wake of Hurricane Katrina's wide path of destruction, the real estate market will be affected perhaps in ways not fully understood or expected. If recent hurricane recovery history holds true there will be several good things to come out of all destruction. Investment Real Estate -- A New Twist: Be the Bank, Not the Landlord, and Get Rich Without the Work! I was a landlord for a decade, and I believe I probably lost a year of life for each year I tried to maintain 26 properties. I learned the hard way that the most efficient way to make money in investment real estate is to create a mortgage note and be the bank - not the landlord. Buying Land Online In the old days people generally only bought land and improved Real Estate in the areas in which they lived or traveled often. Today, thanks to the blossoming of the Internet, one can purchase land all over the United States from the comfort of home. Renting Versus Buying A Home Renters are often in a quandary as to whether it makes sense to continue renting or buy a home. Buying a home makes more sense, particularly when taking a long-term view. Property Investment: Spoiled for Choice in Europes Emerging Markets You could be forgiven for thinking that property is the new dot.com. Apres-Ski European tax haven Andorra enjoys the same fiscal benefits as better known Monaco, adding to property demand from those looking for residency in a tax shelter as well as traditional ski chalet buyers who flock to the country between December and April each year.With the end of the ski season last month many ski resorts in Europe have closed up shop until early December with overseas property owners having little prospect of rental income in the summer months. Be A Realtor With Curb Appeal Are you a realtor with curb appeal or are you more of a fixer-upper needful of updating?How you present yourself to colleagues, buyers and sellers, from the very first moment, will influence your sales records as well as the confidence and satisfaction your new clients feel. Even if you're a Realtor in demand, with more listings than hours in a week, you may well find areas that you can polish. Top Ten Suggestions for Selecting a Real Estate Agent In order to find a real estate broker or agent who meets your needs and makes your buying or selling experience a positive one, Century 21 Real Estate Corporation recommends you:DO NOT blindly walk into or call a neighborhood firm and ask for an agent at random.Ask friends and family for recommendations. How Do I Bring Consulting Into My Lease Purchase Business As you are making your cold calls on property, you will run into sellers that are having a hard time selling, however, the numbers just don't work for you to take on the deal. Do you just say, "I can't work with those numbers". Should you Sell your Home yourself? Should you sell your home yourself? Yes and no. Yes, you should leave the option of selling on your own open and no, you shouldn't rule out using the services of an agent to help you sell. How To Buy Real Estate - Yes, YOU CAN! If you want to buy a house but don't think you can for any of the following reasons, this article is intended to give you correct information so that you can make smarter choices and open yourself up to a world of wealth, possibilities and realistic expectations.The truth is you are being unrealistic when you believe the following reasons to be true:I can't buy property now because?I don't have 20% for a down payment, let alone 5%, let alone even 1%. Real Estate Investing - The Motivated Seller How the heck do you find a "motivated seller?"The motivated seller doesn't wear a tattoo on his forehead that announces the distinction. And he never drags you onto his property begging you to buy. California Home Seller Disclosure Duties Property Condition - Seller's What to Expect During the Inspection ProcessThe Transfer Disclosure Statement (T.D. Investing in Real Estate Profitably: Financing Options for Purchase of Rental Houses, Part 1. This is not an article about tricks for 100% (no money down) financing. Even if you do take advantage of various no money down strategies from time to time, these strategies are not generally applicable when you begin investing systematically in multiple rental homes with the goal of making significant rental income. Investment Property - Leveraging Rental Property Equity Owning investment property is a tremendous wealth building strategy. Thousands upon thousands of individuals have amassed great wealth by investing in rental properties. Real Estate Professional in the Palm of Your Hand GETTING THE MOST FOR THE LEASE-TRACKING YOUR REAL ESTATEIf you own rentals and/or investment properties, you know that you have to keep track of your portfolio, maintenance profiles, property managers, and related financial matters. There are a multitude of programs for the Palm-Pilot system to keep up with lease dates, lease expirations, and rent due dates. How to Buy Fixers for Profit Do you dream of becoming a multi-millionaire real estate investor? Here's how to get started: find a bargain "fixer-upper" owned by a worried seller. The hardest house for a homeowner to sell is a "doghouse," "dump," or "fixer-upper. What Homeowners Should Know to Stop Foreclosure- Speaking Your Lenders Language Financial literacy is the means of empowering consumers to make informed financial decisions through exposure to accurate and timely information. In no other area is the void of accurate information more evident that in the area of foreclosure. Selling Your Home - What Can Go Wrong With Title and Lenders If you're selling your home, there are going to be difficulties at some point in the transaction. Some problems can't be fixed. Getting Ready to Sell Your Property We all have had the experience of someone important coming to the house and whether the visitor is an in-law, an old friend, or business associate you know the drill: Have the house in "show" condition.For investors the situation is much the same: First impressions count!!!! Even though you may not be able to tell a book by its cover, you'll probably pay more for a book if the cover is inviting, and attractive. ![]() |
home | site map |
© 2006 TIGER MEDIA |