Nancy Hibler, Realtor

You’re ready to purchase a home - but have you looked at your credit score lately? Your credit score as a home buyer is not only one of the most important variables when applying for a mortgage, it is also the first thing a mortgage lender will check to see if you qualify for a loan. Your credit score affects how much you can borrow, the kinds of mortgages for which you can be approved, and your mortgage rate. The minimum acceptable credit score depends on the type of home loan you qualify for, but conventional financing for buying a home usually requires a minimum credit score of 620.  Pricing Based on Risk Mortgage lending is based primarily on risk-based pricing. Lenders increase the cost of your mortgage for each risk associated with your credit profile. The lower your credit score, the higher the rate you will pay for a mortgage. For example, the difference between a 750 credit score and a 625 score can add one half of a percent to your loan rate. On a $200,000 30-yea...

In the modern world, it seems like you can do anything online. But what about buying or selling a home? While it may be possible, there are many benefits to using a REALTOR® to navigate the turbulent housing market. While you might have good intentions, using your own resources to buy or sell a home could end up costing you a lot of time and money and unneeded stress. Here are a few benefits to hiring a realtor:   Expertise - Your REALTOR ® is a licensed expert. Buying or selling a home is complicated. There are a lot of forms, disclosures and legal documents that are involved and need meticulous attention to detail. In addition, real estate has its own complicated language and jargon that can be confusing if you are not well versed on the terminology. REALTORS ® have valuable education and field experience that will get you the best deal possible and give you peace of mind. Local Knowledge -   Every region is different so it’s important to have someone who ...

You’re thinking about buying or selling a home. Eventually. But you know timing matters when it comes to such an enormous, and potentially life-changing, event. Which begs the question: When IS the best time to buy or sell a house? And does such a moment exist? If You’re Buying... The Best Month? January This is especially true if you are buying in an area with a cold, winter climate. There is less competition from other buyers during this time which leads to sellers being more motivated. However, this month holds true no matter where you’re buying due to the sheer fact that people tend to overspend during the holidays and can become financially insecure. A fact that can work in your favor as a buyer. The Best Day? The 1st Tuesday Why the first Tuesday? It makes perfect sense when explained. The seller no longer wants the home that he or she is continually writing mortgage checks to pay for. Those payments are usually due at the beginning of the month. Open...

Buying a home can be thrilling and overwhelming. If you are a first-time homebuyer, those emotions can be even more extreme. It can be difficult to know exactly what to expect and the learning curve can be steep, but most of the issues can be resolved by doing a little homework. Check your credit -  Your score is among the most important factors when it comes to qualifying for a home mortgage. You are able to obtain a free credit report every year. Take some time to review it for mistakes and be prepared to explain any unpaid debts or collection actions. Additionally, it is important to remember, that payments are not the only thing that plays into your credit score. The amount of credit you're using compared to your available credit can also be crucial in your score. Repairing damaged can take time. Begin the repair process at least six months before shopping for a home. Space versus location  – When you are a first time buyer, choosing the right home is often about c...