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Anybody in real estate?
Ms Sans Serif
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[quote:Anonymous Coward 7736082:MV8yMDY3OTQ5XzM0Nzk2NzM4XzYyQkQ1NTk=] [quote:Elemental:MV8yMDY3OTQ5XzM0Nzk2NjMxXzdFMzUwN0NB] [quote:Anonymous Coward 7736082:MV8yMDY3OTQ5XzM0Nzk1NjM4XzE1NUMxMDgw] Nobody has any good advice for a first time buyer that can't be found by googling? I want to hear some experiences. [/quote] I'm a mortgage broker in the UK, credit score means everything when applying, especially at higher loan to values. Having a small amount of credit can actually work against you (known as a *thin* credit file) when there is not enough evidence to ascertain whether you're credit worthy or not. [/quote] What would be the quickest way to build it up? I am going to apply for another credit card but would it be better to take out a small loan on an expensive appliance or something and pay it off monthly? [/quote]
I officially now have $30,000 saved up to buy a new home howeber I have very little credit. I only have one Visa card that I've had about 2 years. I get many offers in the mail just havn't followed up on getting a second one yet.
But If I'm looking for homes priced around $60,000 to $80,000 and put up around $20 to $25,000 for a downpayment (including closing costs) does my credit score really matter? My goal would be to have my morgage around $350 a month or cheaper. I take home after taxes about $1,400 a month.
First time home buyer so any help GLP can offer I would greatly appreciate it.
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