Our Credit Scores And Their Importance

Do you know how important our credit scores are?
Most people do not realize how important a credit score is. Over the last ten years your credit score has been used to determine your ability to repay your credit, debt. Credit Score determines a lot of things including mortgage interest, consumer loans, insurance, credit cards and can even be instrumental................ READ MORE HERE

Improving Your Credit Score Top Ten Tips

10 Things You Can Do To Improve Your Credit Score People often do not understand how badly a bad credit score can hurt them until it is too late. If you are looking to buy a house, your credit score is a huge factor. There is nothing worse than finding the perfect house for your family and then discovering that your low credit score is a roadblock towards being able to get the house. Your credit is also important because it is how banks and finance companies determine mortgage rates. The better your credit score, the more favorable your mortgage terms will be. Finding a house that you like is only half of the battle, getting mortgage terms that are favorable is the other half.
Looking for a house in the St. Louis area? Finding a house is not always easy, you want the neighborhood to be good, and if you have children, you want a good school to be nearby. We want to help you find the perfect place for you and your family and we know St. Louis. We are a family team and our job is to help you find your next house, without the hassle and the stress. Visit us at www.realestatetrio.com and let us help you today! If you are worried about your credit score, there are things that you can do to improve your score. A low score can keep you from getting a good interest rate, or worse, a bank can even deny you because of it. You need to be thinking about your credit score before you buy a house, not discovering too late that you need to increase your score. If your credit score could use some improvement, follow the following to help your score improve, giving you a chance of getting better rates. Do not let bad credit derail your quest for a house.
Check Your Credit Report Do you know what is on your credit report? Many people do not. The problem with that is that if there is any incorrect information on your credit report, especially if it is negative, it will affect your credit. Removing incorrect information can help bring your score up, especially if you have incorrect information that is negative on there. You need to look for more than just information that is not yours. Pay close attention to what the balance owed and total line of credit for each creditor is correct. Consumers are allowed a free credit report every year. Visit www.annualcreditreport.com to get your free copy of your credit report. From this site, you can get your credit report from all three credit agencies: Experian, TransUnion, and Equifax.
Balance Your Credit If you have a few cards that are close to being maxed out and a few with low balances, transfer some of the balance from the cards that are close to being maxed to a few cards with low balances. You do not need to transfer balances to every card, just a few. This is a short-term solution to help boost your credit score. Ideally, you need to pay off the accounts, but if you have high balances, this is a way to help spread the debt out, so it looks more balanced on your report.
Do Not Close Unused Accounts Part of your credit score is your utilization ratio. Your utilization ratio is your total debt divided by your available credit. Having cards that are unused and that have no balance will help your credit. If you do not want to use the accounts, do not carry the card with you to limit temptation, but leave the accounts open.
Keep Older Accounts If you have a lengthy credit history, your score is better. Closing old accounts that you do not use anymore can actually hurt you because it leaves you with newer credit lines only. Make sure to keep your oldest accounts active by using them every now and then and then paying off the balance quickly.
Bring Down Your Balances If you carry high balances on many cards and loans, your score will be lower. The bigger the difference between your credit limit and your actual credit balance, the better your score. It is tempting to pay off of the cards or loans with the highest interest rates first, but if you want to improve your score, pay off cards that have the highest balances first. Credit card debt affects your credit score more than installment loans, such as student loans, auto, and mortgages. Although it is important to pay off all debt, your credit card debt is very important.
Pay On Time Paying bills late, even if just by a few days, can negatively impact your credit score. It is vital that you pay your bills on time, every time. If you have trouble remembering to make payments on time, set up reminders.
Only Use Credit When You Need To Limit your use of credit cards. You are only working against yourself if you continue to use your credit cards while trying to pay them off. Try to keep your balances to 30% or less of the total limit of the card.
Ask For Late Payment Forgiveness If you have a history of making your payments on time but you have a single late payment on your credit, you can request that the creditor remove that late payment from your history. Request this in writing for them to give you more consideration.
Do Not Apply For New Credit If you open multiple new lines of credit, it can be a double-edged sword. The available credit can boost your score but having too many accounts that were all recently opened makes it look like you are desperate to find credit and it can hurt you.
Do Not Consolidate Your Debt Consolidation can hurt you. When you transfer your balances all to a single card, it negatively affects your credit. It is better to keep your debt spread over a few cards while you pay the balances off rather than have it all on one credit line.
Your credit counts. Protect yourself by following these tips for increasing your credit score. Do not let your dream house slip from your fingers because of a less than stellar credit score. The Helderle team is here to help you. We know the neighborhoods, we know the city, and we can help you find the house that you have been dreaming about.
Visit us as www.realestatetrio.com.

Buying A Home vs Renting A Home In St. Louis,MO.

Buying A Home vs Renting A Home
When it comes to the debate of owning or renting, certainly some pros and cons can be argued for each. Some people rent because they do not think that they can afford a home, but they have never really tried. Owning a home can be more affordable than people think. Our experienced Realtors can help you find homes in all price ranges. That house that you thought you could not afford, let us help you find it for you. Visit us at www.realestatetrio.com for more information about how we can help you. We love our clients and we love St. Louis, give us a visit so that we can help you today!
Is it better to rent or to own your home? For many, owning their own home is the way to go. There are many reason why owning a home has more advantages over renting a home. People often think that cost is the only issue. Cost is an issue, but it is not the only issue. Keep reading for our list of reasons why it is better to own your home vs. simply renting your home.
It is Cheaper to Own a House rather than Rent a House Owing a home can be scary, you end up paying a lot upfront, as opposed to renting, but when you own a home, it can be cheaper than renting a home. Many people are surprised to find that out, but it is true.
According to the Winter 2013 Rent vs. Buy report by Trulia, homeowners who buy their house save 44% over people who rent. You might think that these numbers were from less than desirable cities but in fact, the report found that that statistic was true for the top 100 metro areas in the United States.
Part of this is due to increasing rents, while mortgage rates are falling. Yes, with houses, you have your mortgage, property taxes, and maintenance, but if you are planning on living in the house for a long time, in the long run, you will be saving money by owning that house instead of renting.
Buying a House Builds Equityrental,
When you rent a house, you pay rent and in the end, you have nothing to show for it. Owning a house allows you to build up equity. Initially, your mortgage payments will often be applied mostly towards the interest. After some time, a bigger portion of your mortgage payments will go to your principal, which is your mortgage balance, as opposed to your interest. With each payment, you are building up equity, which is your share of the home that you have paid for. Equity is money in the bank, it increases your wealth and as your continue to pay the mortgage payments, your equity builds.
Freedom from Lease Restrictions and the Ability to Decorate When you rent, you are often restricted by a lease, which means that you have to follow the rules to continue to rent. Rental leases commonly have restrictions on guests, pets, and even children. When you own your own home, you have the freedom that comes with not having to follow a set of rules as mandated by a lease. Additionally, you are free to decorate and make changes to the house and/or the property as a homeowner. As a renter, what you see is what you get and any changes must be approved by the landlord. When you own your home, you can remodel, redecorate, and landscape however you want to. You have absolute freedom to customize your home when you own it. Renting give you no such freedom.
Owning a Home is a Tax Advantage
Owning a home is a significant tax advantage because you can deduct property taxes and mortgage interest from your federal income taxes. Some states allow you to deduct these as well. A large portion of your payments from the first few years of your mortgage typically goes to your mortgage interest. This means that you get a bigger tax advantage during the first few years of your mortgage since so much of your payment is for the interest only.
Your Credit Rating Improves
Rental payments do not affect your credit. When you have a mortgage and you make your monthly payments on a regular basis and on time, your credit score will improve. Owning a house will help your credit improve.
Pride in your Community
When you own your home, you have a vested interest in the neighborhood. You want to be involved in the community to ensure that your neighborhood is safe. It is easier to care about the safety and well-being of your community when you own a house because you know that you are a member of the community and not just a temporary member. Owning a house gives you a sense of community.
Stable Place to Live
Owning a house means that you will own that house until you decide to sell it, providing that you make the payments, of course. You do not have the stress that comes with finding out that your lease is suddenly up and will not be renewed, forcing you to move on short notice.
Owning a home means that you have a stable place for your family.
You know what your mortgage payments are and you do not have to deal with continued rent increases like many home renters have to contend with. Your family does not just have a house; they have a home when you buy vs. rent. You are giving your family security and peace of mind that they will have a roof over their heads for years and years to come. Owning a home has far more advantages than renting a home.
Not only is there a financial advantage, but there are other advantages as well. In today’s market, owning a home is hugely advantageous. To discuss these reasons more in depth, contact a member of the Helderle team today! Our job is to make your journey towards buying a home as easy as possible. From finding the best schools, to finding that perfect backyard, we can help. Visit us as www.realestatetrio.com today.
The Helderle Team 2013 © All Rights Reserved