Looking to improve your credit score or maintain a high fico score. Understand how Equifax, TransUnion, Experian.  Rate your credit and generate a fico score.

35%Payment History- Do you pay on time?

30%Amount owed-Balances close to the credit limit.

15%Length of credit- How long have you had credit?

10%New credit-Do you have to much new credit?

10%Type of credit-Mortgage, credit, installment loans.

Three percent down (3%), Private Mortgage Insurance (PMI), seller can provide you  with up to 6% closing cost credit. 

One of the most effective ways to make sure your home looks the best is setting the stage for showings.

You may have already made some repairs, repainted, and cleaned the carpets. But the eyes of the buyers are in the small details.The power of the details start by removing the first thing in the way as you enter in the front door. Gradually a path opens up, and the features of the house start to emerge. The goal is to make the house look bigger, brighter, and more open.  You might just imagine your home not looking like “your home” but and Inviting and expensive penthouse.  Setting the scene in each room sells the house—A Buyer appreciates your personal involvement. It shows you care.You must remember to uncluttered.  Beautiful items but crammed to the rafters with collectibles, floral arrangements, antiques, tapestries, and other treasures.  Try to remove 25%-35% of those items- your home is still beautiful, but now you could see the space, features, and detailing.

Recap -

1. Depersonalizing the space by removing family photos, taking everything off the refrigerator, and stripping the kids’ rooms of posters and baseball trophies.

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2. Clearing high-traffic areas of excess furnishings to maximize feelings of space and comfort

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3. Highlighting the key features in every room–such as fireplaces or French doors–by making sure they’re not obscured by plants or furnishings.

Sometimes, when you’re selling a vacant house, you need to switch gears and add a little clutter. Add two table settings for the breakfast bar, wine glasses, decorative pillows, candles, floral arrangements, towels for the baths, and pretty items for the shelves and counters.

Remember -

  Begin with the living room. It is  often the buyer’s first interior impression and can make or break the sale. If extensive clutter exists throughout the home, do the living room first and the rest later.

   Partially clear off built-in shelves, cabinets, and countertops. These are important features that need to be prominently displayed.

  Be encouraging.  Removing clutter is a giant stress reducer as well as a good way to get a head start on packing.

Is it wise to rent my home?  -Many millionaires have been born through the use of buying holding and eventually cashing out on their real estate holdings. In this down market, where prices and loan products have become volatile, it may pay off to rent that home rather than let it stay vacant. Renting the home insures you do not have to take in a depreciated offer at this time. Real estate traditionally does appreciate with time.  This market is where investors are looking to swallow the losers, sit and sell them when they become winners again. If you are unable to care for the property hire a professional management company that will look after your property. Keep in mind that the rental may be subject to regular maintenance and cleaning when it is time for a new tenant or is sold. 

- Moving or trading up may have  you in need of a cash down payment.  You may refinance your current home and take the necessary funds  needed for a down payment making sure that the rental house does  not leave a great negative position on your finances.

 - If you just want it out of your life than selling for a less than expected price may be the answer for you. It would bring closure and you could  move on with cash in hand.

Is paying down my mortgage debt a good idea?

Strategy 1. Not every case is the same. If your money is in a savings account with low interest earnings and are close to retirement then paying off your mortgage would give you the flexibility to have extra dollars in those retirement years. This strategy is good for people looking for limiting their risk from swinging interest rates on their mortgage and can more effectively predict retirement costs.

Strategy 2. If you maintain steady earnings and are not planning to retire soon, you may want to keep your debt as long as possible for their tax benefits. You then can invest your money into more lucrative gaining investment vehicles. Approaching the retirement stage you may consider strategy 1.

Brush up on these mortgage basics to help you determine the loan that will best suit your needs.

• Mortgage terms. Mortgages are generally available at 15-, 20-, or 30-year terms. In general, the longer the term, the lower the monthly payment. However, you pay more interest overall if you borrow for a longer term.

• Fixed or adjustable interest rates. A fixed rate allows you to lock in a low rate as long as you hold the mortgage and, in general, is usually a good choice if interest rates are low. An adjustable-rate mortgage is designed so that your loan’s interest rate will rise as market interest rates increase. ARMs usually offer a lower rate in the first years of the mortgage. ARMs also usually have a limit as to how much the interest rate can be increased and how frequently they can be raised. These types of mortgages are a good choice when fixed interest rates are high or when you expect your income to grow significantly in the coming years.

• Balloon mortgages. These mortgages offer very low interest rates for a short period of time — often three to seven years. Payments usually cover only the interest so the principal owed is not reduced. However, this type of loan may be a good choice if you think you will sell your home in a few years.

• Government-backed loans. These loans are sponsored by agencies such as the Federal Housing Administration or the Department of Veterans Affairs and offer special terms, including lower down payments or reduced interest rates to qualified buyers.

Slight variations in interest rates, loan amounts, and terms can significantly affect your monthly payment. For help in determining how much your monthly payment will be for various loan amounts, use Fannie Mae’s online mortgage calculator.

You can always have the option to buy down your interest rate.  The cost is usually one percent of the loan amount and the rate decreases (rate decrease varies with all lenders),  ask how much will it reduce and calculate the cost vs. how long you are planning to keep the specific property.    This can be a substantial savings in the long term.