Before you buy real estate in Virginia Beach, Chesapeak, Norfolk, Suffolk, or Hampton Roads you need to do your credit housekeeping.
Read – How Your Credit Score Affects Virginia Beach Home Buying
Did you know that by having a credit score in the 700+ range versus a 500 score could save you tens of thousands of dollars over the course of a 30 year real estate loan?
Thinks about it, if you have a great credit score it could result in a $200 or more savings per month on your new Virginia Beach or Hampton Roads home purchase. (may vary based on purchase price).
You are simply less risk to the lender with a high credit score and will get a better interest rate and terms on your real estate purchase.
Multiply that by 12 months and then by 30 years and it is a hefty amount of money in your pocket and not the real estate lender.
So start here:
Go and get your annual Free Credit Report
This central site allows you to request a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and
TransUnion.
When visiting any of the credit reporting sites listed above do not sign up for their credit monitoring service – check with your bank to see if they offer a similar service for free.
Read my tips:
Contact your REALTOR® if you need any assistance.
See how your REALTOR® can help you navigate through purchasing Virginia Beach or Hampton Roads
real estate with representation.
{ 2 comments… read them below or add one }
Dennis – this is great advice for all of us – especially as the ramifications of our credit scores continues to effect all our lines of credit.
Virginaia beach is so beautiful! thanks for all of the great info on your blog!