If you’d like to purchase your Lake Nacimiento dream home this year, our Oak Shores Realty team is here to help make it happen! Check out our exclusive lakefront listings and give us a call for home-buying help. Whether you’re looking for a permanent home or vacation home, this should be a great season at the lake!
Before you apply for a mortgage loan, it’s important to check your credit score. The higher your score is, the better the loan you may qualify for. If your score is very low, you may not even qualify for a mortgage. Also referred to as a FICO score, this score is basically a calculation of your history of paying back debts and making regular payments.
The first step you should take is to pull your credit report from all three major U.S. credit bureaus. These are Experian, Equifax and TransUnion. The scores should be roughly similar, but they each pull a bit of different information.
Once you have each report available, the second step is to run through them and look for any errors. The Federal Trade Commission found that at least 5 percent of credit reports have errors that could negatively affect your score. If you find any, send a dispute letter to the bureau and contact the organization who made the mistake. This could take a while, but it could also bump your score.
The next step is to look for any one-time mistakes. If you were late paying one credit card bill, for example, contact that credit card company and ask for it to be forgiven and removed from your credit history. Unless you have a history of late payments, most companies will forgive a one-time mistake.
Consider increasing your limits. If you’re on a time crunch for purchasing a home and don’t have time to pay down your debt, ask your credit card companies to increase your credit limit. This will improve your debt-to-credit ratio.
If you have more time to spare, the smartest option is to actually pay down your debt wherever possible, and to make your payments on time. Start these practices early so that your credit is in great shape by the time you’re ready to buy. Even if you aren’t ready to buy yet, these are practices everyone could put into play now, to improve their credit scores and their future chances of buying or investing.
Whether you’re looking to buy your first home, your Lake Nacimiento dream home, a second home, investment home or vacation home, our team at Oak Shores Realty is ready to help. Give us a call for all of your Lake Nacimiento real estate market needs! The sooner you get started, the sooner you can settle into your lake home and enjoy lake activities. This spring and summer will be great seasons on The Dragon!
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty
Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.