Credit_Check

www.housestucson.net

Have You Checked Your Credit Report?

Credit report scores range from 300 to 850. There are three main determining factors for high scores:

   1/3 timely payment of bills.
   1/3 debt load--each credit card used is under 50% available funds
   1/3 history of credit: who is credit with--how many inquiries.

TIPS: Plan ahead -have photo I.D., tax records, employment pay-stubs, and bank statements as a minimum for the lender. Prior to seeking a home loan, any activity with credit may have a negative impact. Do not close accounts. Do not immediately pay off accounts that have been dormant for more than two years. Gift money vs. your own money has a negative affect on your credit rating when applying for a loan.

Once you have been pre-approved, do not make any major purchases until after Close of Escrow on your new home.

If there has been a divorce or bankruptcy, check about an FHA loan. Be prepared to have court paperwork available.

Credit scores affect insurance premiums as well as home loans.

What Are You Looking For?

Have You Checked Your Credit?

Map of Tucson Neighborhoods

Active Adult Communities

Janet 520-979-2988

j.pipes@comcast.net