When buying a home...

Having a good credit score is important when it comes to buying a home because it can significantly impact the mortgage rates and terms you are offered. Lenders use credit scores to assess the risk of lending money to borrowers, and a higher credit score typically means a lower risk for the lender. This means that if you have a good credit score, you may be able to secure a lower mortgage rate, which can save you a significant amount of money over the life of your loan.

Note: 

Use a credit score service or free credit scoring site to check your credit score. Did you know you are entitled to a free copy of your credit reports every 12 months from each of the three nationwide credit bureaus. All you have to do is go to: www.annualcreditreport.com and follow the directions

In addition to getting a better mortgage rate, a good credit score can also make it easier to get approved for a mortgage. Lenders often have minimum credit score requirements for borrowers, and if your score falls below these requirements, you may have a difficult time getting approved for a mortgage. Even if you are able to get approved, you may be required to make a larger down payment or pay higher closing costs.

Aside from the financial benefits, a good credit score can also give you more negotiating power when it comes to the terms of your mortgage. If you have a strong credit score, you may be able to negotiate for a lower down payment or a shorter loan term, which can save you money in the long run.

In short, having a good credit score is essential when it comes to buying a home. It can help you secure a lower mortgage rate, make it easier to get approved for a mortgage, and give you more negotiating power when it comes to the terms of your loan. By taking steps to improve your credit score, you can put yourself in a better position to achieve your goal of homeownership.

You can also request a free copy of your credit report from each of three major credit reporting agencies – Equifax®, Experian®, and TransUnion® – once each year by calling toll-free 1-877-322-8228.

The following ten reasons are practices that people do to harm their credits: 

Failing to pay bills on time: One of the most common mistakes that can harm your credit score is missing payment due dates.

Maxing out credit cards: Using too much of your available credit limit can lower your credit score.

Not having a diverse mix of credit accounts: Having a variety of credit accounts, such as a mortgage, a car loan, and a credit card, can be beneficial for your credit score.

Applying for too much new credit at once: Each time you apply for new credit, it can result in a hard inquiry on your credit report, which can lower your credit score.

Not using credit at all: It's important to use credit responsibly in order to build a good credit history.

Carrying high balances on credit cards: Having high balances on your credit cards can be detrimental to your credit score.

Closing credit card accounts: Closing credit card accounts, especially if they have a long history, can negatively impact your credit score.

Having a high credit utilization ratio: This refers to the percentage of your available credit that you are currently using. A high ratio can lower your credit score.

Having a history of late or missed payments: Payment history is a key factor in determining your credit score, so it's important to make all of your payments on time.

Having a high number of hard inquiries on your credit report: Hard inquiries occur when you apply for credit and can lower your credit score, so it's important to limit the number of times you apply for new credit.

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I am fully aware of the current market trends and what it takes to get a great deal on a listing or get top dollar for your current home. When it comes to getting the job done right, you can count on me.

Please don’t hesitate to call and ask me any questions you might have. This process is all about you and your needs. Real Estate is a big investment and I understand that. One thing you will get with us is a personal relationship, In the end, that goes a long way.

To get started contact Debbie Davignon at 508-989-0972 

or email Debbiedavignonrealtor@gmail.com 

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Deborah Davignon

My goal and mission for my business are to give the best service and education in the South Coast MA and RI areas, including Cape Cod. I enjoy helping families to buy the home they want and understand the process and the long-term expectations of homeownership.