Changes to Credit Report Data May Increase Home Buyer Credit Scores
Posted by Shawn Clayton on
Most people know they have a credit score and that lenders, including mortgage lenders, review it during a loan process. But it is less common to fully understand how a credit score is determined, what it predicts, and how this can affect your waterfront home buying process.
Credit scores are statistical formulations that predict a person's credit worthiness. Lenders all over the country use them to decide whether or not to extend credit, the amount of credit they will extend, and the terms of the loan. Consumers in Manasquan, NJ and all over the country who manage their finances responsibly and pay their bills on time enjoy high credit scores that are attractive to lenders. A high credit score can literally save them thousands of dollars over their…
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When you apply for a mortgage, lenders typically look for a solid work history, good income with upward mobility, and a great credit rating. The truth is that not everyone who gets a mortgage has perfect data when they apply.
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The purchase of property for the purpose of renting it out as an investment brings with it a number of added complications, beyond the regular purchase of Jersey Shore real estate. To help those savvy investors out there become even savvier, we’ve put together a number of Do’s and Don’ts to help you navigate the treacherous waters of investment property ownership.
The warm spring and summer months are far behind us and local Jersey Shore home owners are now awaiting the cool embrace of winter. With the colder weather, also comes a dramatic slow-down in the real estate market. Home buyers traditionally look for and purchase new homes during the warm months of Summer, but what about Winter?
Owning waterfront property is the dream of many homeowners all over. And what’s not to like? You can live the kind of lifestyle you’ve always dreamed of and come home to a vacation each and every night in communities such as Bay Head, Mantoloking and others. But unsurprisingly there are a number of additional considerations when it comes to purchasing waterfront properties that just don’t come up with regular properties.
Well, after months of planning and preparation, Clayton and Clayton Realtors are ready to launch our new office in Allenwood.