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City: DOWNERS GROVE Price: $335,900 View Details View All Featured Properties

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City: Price: Minimum Price No Minimum $500 $750 $1,000 $1,250 $1,500 $2,000 $2,500 $5,000 $10,000 $20,000 $30,000 $40,000 $45,000 $50,000 $55,000 $60,000 $70,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 $6,000,000 $8,000,000 $10,000,000   Maximum Price No Maximum $500 $750 $1,000 $1,250 $1,500 $2,000 $2,500 $5,000 $10,000 $20,000 $30,000 $40,000 $45,000 $50,000 $55,000 $60,000 $70,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 $6,000,000 $8,000,000 $10,000,000 Beds: Beds 1+ 2+ 3+ 4+ 5+ Baths: Baths 1+ 2+ 3+ 4+ 5+   Click here

Understanding Credit Scores

Your credit score is determined by five major factors (35% Payment History-10% New Credit-10% Types of Credit in use-15% Length of Credit History-30% Amounts Owed).  Based on your individual situation some factors can be weighted more than others. Understanding these factors and using credit wisely will factor besides your credit score depending on the type of credit you are trying to obtain.  When shopping for a mortgage, lenders will also consider income, debt, and mortgage history.  The FICO socre is a quick snap shot of many factors.  They provide a statistical analysis of the credit agencies ranking on the risk associated with issuing credit to an applicant.

What is a good score?  Most lenders consider a score above 700 to be very good.  The higher the better.

Can a good score save money?  YES, the loser your score the more you are perceived as a credit risk.  The greater the credit risk, the higher your interest rate will be. 

What can I do to improve my credit score?

1) Check your report for accuracy and fix any errors.  2)Pay your bills on time.  3) Keep balances low. Try to keep your balances less tha 1/3 of your available limit.  4) Pay off debt rather tahn moving it around.  5) Apply and open new credit accounts only if you need them.  6) If you have missed any payments , get current and stay current.  7) Contact your loan officer for additional advice on credit repair.

 

Dawn McCoy, RE/MAX Action | Serving Chicagoland | Corporate Office 1550 Maple Ave, Lisle, IL 60532 | 800-276-2600 | Contact by E-mail