Category Archives: Real estate

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Credit score and your home buying power  

People usually need to take out a loan to be able to buy the house they want. Some of them have enough money to do it on their own, while most others need to find the appropriate financing. Fortunately, many lenders can help you accomplish your goal of becoming a homeowner.

Mortgage brokers offer various home loans, but before purchasing a property, you need to make sure you can qualify. One of the essential factors that have an influence on the final decision is a credit score. Banks need to be reasonably confident you will be able to pay them back, so they need a proof of your financial ability. People usually ask the same question – what credit score is needed to buy a house?


There is no exact answer to this common question, as it is highly subjective, and depends on many factors which vary by lending institution. Every bank has its pre-defined eligibility criteria or approval formula. The amount of down payment you are willing to make has a significant influence on the credit score level necessary for getting approved.

If your rating is over 720, it is excellent, and lenders will be delighted to approve your home mortgage loan. They could offer you some great options, so look around and find the best one. If your score is between 680 and 720, they will have good choices for you, but not the best. People with a credit score between 600 and 680 can still find a decent mortgage, but their cost of financing will be proportionately higher. If it is anywhere from 500 to 600, your options are much tighter. You should talk to a mortgage expert and find out more about your options and how to improve your overall rating.

One of the best ways to increase your home loan standing is by reducing your outstanding debts. You should know that, when applying for a loan, all of your existing debt will be considered when determining whether you meet the requirements for getting approved, and at what interest rate. Individuals with debts need to pay them off as much as they can before applying for a mortgage, because it will dramatically improve their credit score.

Interestingly, you should pay your obligations every week. Most companies require only one payment on outstanding bills monthly, but if you do it weekly whenever possible, your rating will improve more quickly. Another benefit of this is that, by paying more often, you will decrease the amount of interest you are being charged on your debts and save more money that you can put toward your debts, thereby paying them off even faster.


No matter how tempting it sounds, don’t close your unused credit cards. You might think it is a good idea to do this before applying for a mortgage, but in fact, it is a bad one. The longer your credit history, the higher the chances of qualifying for a mortgage loan. If you are eager to close them, wait until your home loan request gets approved.

The last advice is to pay your utility and medical bills on time because mortgage lenders take them into account when determining your credit rating. Make sure you cover them on time every single month. You will go a long way, much more quickly, towards improving your score by implementing these simple techniques. Very soon, a bank will approve your loan request, and you will be able to purchase your dream house at a much more affordable mortgage rate.

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Looking for a condo solution in Seattle?

In the last couple of years, condos have become a primary habitat solution in many urban centers all across the United States of America. The main selling point of condos is that they are considered the perfect housing alternative, usually for people with a care-free lifestyle. It is especially in the last decade or so that condos have reached the peak of interest and popularity. The people who are mostly interested in condo arrangements are usually couples with no children, single persons and people who are in retirement. This interest is mostly the result of conveniences regarding condos and the amenities of the buildings they are located in. If you have an interest in buying or renting a condo, you should carefully consider all the pros and cons of a particular condo, mainly because it is not a small investment but a rather big and long lasting one. There are some points that you should pay attention to, if you are thinking of purchasing a condo.


One of the most important points is the actual location of the condo. Before examining the condo itself, you should take a look around the surrounding neighborhood and the adjacent environment. You should consider the security and safety of the location and how close it is to some of the important institutions including; schools , hospitals etc. Also, you should check whether a condo in question is a part of a block or a single unit. Take notice of the environment surrounding the location, especially paying attention to the pollution levels, particularly air and noise. When it comes to the amenities of the location, water system is, obviously, of great importance. Pay attention to the surrounding infrastructure, like roads and communications, electric power systems etc. The population inhabiting the area is usually an indication of the level of competition for resources. Next thing you should do is check the condition of the condo itself. Examine the plumbing and electricity system and other utilities. Also, pay close attention to whether the condo is renovated or brand new. Lastly, consider the cost of the particular condo. The prices of condos are usually shaped by the additional amenities, which include gyms, swimming pools, libraries, club houses and more.
Don’t be discouraged by the common thought of condos being expensive. This thought has sprung in the past from the belief that condo living is usually an indication of a higher social status. These days things are different. Condos today are a very affordable and viable solution. If buying a house is just a bit out of your reach, then condo purchase presents itself as an excellent option.
If you decide to look for a condo in the Seattle area, then our suggestion would be to get in contact with Jed Etter – Sell Seattle in order to make that process much easier. Sell Seattle is a firm that provides top information regarding Seattle’s housing market. Sell Seattle is also a primary source of information concerning the condo market and high – end urban real estate in the Seattle area. You can also contact the firm if you are interested in a Seattle condo buyers guide.