Credit Score 

Credit scores are the rating system used by lending institutions to determine whether they are willing to lend you money.  They are very important to you as they not only dictate whether you are able to borrow but also at what rate you can borrow.  The better (higher) your credit score, the lower your interest rate and fees to borrow will be. 

Credit scores range from the 500’s to the 900’s.  The higher the score, the more “credit worthy” you are.  These credit scores are based on the information in your credit report.  A good score that will allow you to be credit worthy with lending institutions is 680+.  A score below 620 reduces your chances of getting a loan at the best rates.  If your credit score falls below 600, expect challenges in borrowing money.

Many home buyers don't realize that it's best to get pre-approved for a loan rather than pre-qualified. There's a big difference between prequalification and preapproval when it's time to get serious about buying a home.

Sometimes understanding the distinction can make the difference between getting the home you want at the price you want it for and having to settle for something less. One gives the seller a great deal more confidence in your ability to close escrow, which is the purpose of both types of documents.

If you're interested in buying a home in the Spokane area soon, please give me a call and I can give you some helpful pointers: (509) 979-2535

If you are a home buyer, it's very important to try to refrain from making major credit purchases before buying a home.

What many real estate buyers don't realize is that the monthly payments you are making for those credit obligations can dramatically decrease the size of loan you qualify for by a ratio of about 100:1. That's a large amount of home buying power you're giving up when you decide to make credit purchases before buying a home.

If you're thinking of buying a home in the Spokane area soon, give me a call so I can help you get prepared: (509) 979-2535

There are three main types of real estate markets—a cold market (buyer's market), a normal market, and a hot market (seller's market). My experience representing buyers of Spokane real estate covers all three.

If you are are considering buying a home in Spokane please talk to me to get up to the minute information information on the local Spokane economy and Spokane real estate market: (509) 979-2535