Louisville Real Estate Blog | Brad Long Real Estate Group | Keller Williams Louisville East

Top 10 Credit Don'ts

THINGS NOT TO DO DURING THE LOAN PROCESS

1.       Don’t Do Anything That Will Cause A Red Flag To Be Raised By The Scoring System. This may include adding new accounts, co-signing on a loan, changing your name or address with the bureaus. Generally, the less new activity on your reports during the loan process, the better.

 

2.       Don’t Apply For New Credit Of Any Kind. Including those “You have been pre-approved “credit card invitations that you receive in the mail or online. Every time that you have your credit pulled by a potential creditor you could lose points from your credit score. Depending on the elements in your current credit report, you could lose anywhere from one to twenty points for one hard inquiry. For lender inquiries as of Jan. 2007, any indicial inquiries count as one incident through...

Seven Steps for First Time Home Buyers

SEVEN STEPS FOR FIRST-TIME HOME BUYERS

 

Home buying is exciting and the joy one feels walking into their first home is incomparable. First time homebuyers need to follow certain steps to get on the pathway to homeownership. Following these steps will make your dream of becoming a homeowner in Louisville, Kentucky (or surrounding area) a smooth process.

 

1               Get Pre-Approved? The first step is to talk to a lender.  If you are serious about buying a house, get pre-approved instead of just pre-qualified, that will show buyers that you are serious.  Your lender should be able to tell you what you need to do, give you advice on your credit score, and explain all the details. If you...