So you think you’re ready to buy that house?

KarenWhat’s big, has four walls and has the potential to push you into financial ruin? Why, yes, it’s a house. The median price of a home in the U.S. in 2014 is $208,300. Depending on where you live, that might buy you anything from a tiny apartment to a modest home; whatever it buys, we’re talking about a sizable amount of money. You definitely want to know the ins and outs of the home buying process before you make a mistake on what could be the biggest purchase of our life.

Exciting times….Who do you call first when you ready to buy? Step one is to vet the local real estate agents, right? Ah, no…Way before you start checking out real estate agents you need to check out your credit score. The three major credit bureaus are Experian, Equifax and TransUnion. You are legally entitled to one free credit report a year. Log on to for your free report. Keep in mind this will only include your report, it will not contain an actual score. If you chose to pay for your credit score be sure to note whether you are being required to pay for credit monitoring service as well. This can add unnecessary costs.

Your credit score will drive what type of mortgage, what interest rate, and what loan term you will qualify for. A one point increase in your interest rate can mean you end up paying an additional 10% on your monthly payment, not to mention thousands more in interest over the life of the loan.

Now that you know your credit score call me to help find your dream home…..


– karen

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