LivingMalibu.com » Financing your Malibu Home http://www.livingmalibu.com Malibu Real Estate-Malibu Homes For Sale Tue, 18 Jul 2017 20:51:46 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Financing Your Malibu Home? http://www.livingmalibu.com/financing-your-malibu-home/ http://www.livingmalibu.com/financing-your-malibu-home/#comments Wed, 24 Oct 2012 02:50:25 +0000 ritasimpson http://www.livingmalibu.com/?p=2440

So you decided to take advantage of the historic low interest rates and the bottom of the market? Here are some tips from the pros to make sure your credit score is the best it can be and assure you can finance you Malibu Home Purchase.

1-If you have a $5,000 credit card limit and owe ...]]>

So you decided to take advantage of the historic low interest rates and the bottom of the market? Here are some tips from the pros to make sure your credit score is the best it can be and assure you can finance you Malibu Home Purchase.

1-If you have a $5,000 credit card limit and owe $4,500 that will “ding” your FICO score while owing under $1,000 will probably not matter.

2-If you make the payment 30 or more days after it is due your FICO will get whacked and 60 days is deadly.

3-If you finally manage to pay off a credit card you have had for years that will improve your FICO unless you then close it.  Bad move as closing it lowers your score.

4-Money in the bank?  Always a great goal and essential for buying a home and a good night’s sleep.

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