Cleaning up your Credit

Your credit score can either save you money or cost you money. It can stop you from getting a job and keep you from getting insurance. It pays to understand what you can do to make it the best it can be.

Get Your Credit Report and Scores
By understanding your credit report, it will tell what actions you need to take to ensure your credit score is as high as possible. Equifax Gold Credit Monitoring allows you to run your credit report free every month.

Step 1
30% of your credit report score is attributed to credit balances. Keep your existing balance at or below 45% of your available limit. It is therefore important that all creditors report the available credit - or high limit on your credit report - or it harms your score. So get the credit company to add the limit to your report, or don’t do business with them.

Step 2
35% of your score is made up from your actual payment history. Whatever you do, make your payment within 30 days of the due date. Only 30+ days late will appear on your credit report. One way to build up your credit is to use your credit cards for everyday purchases; then pay your credit cards in full monthly.

Step 3
15% of your score is based on credit history. So it is important not to close your credit accounts that have been opened for a long time with a good rating. Longer credit history equals a higher score.

Step 4
Keep a good mix of your accounts. A good mix would consist of 3-5 credit cards, an installment loan (auto), a mortgage rating. Also inquiries impact your score by 10%. Each inquiry can impact your score by 5 points.

Step 5
Do you have high debt levels (over 5K in debt)? www.CareOneCredit.com will negotiate your debt with your creditors and help you lower your payments. The short form is free; you have nothing to lose if they can’t save you money.

Stacey becomes an Educator for WA State Housing Financing Commission

A while back, Matt Berg, with Colbalt Mortgage shared with me information about an amazing program through the Washington State Housing Finance Commission (WSFHC). The non-profit organization was established through the WA State legislature over 25 years ago and provides money to first-time home buyers. This money often time is loaned to buyers who must meet certain qualifications (best for low-to-moderate incomes) and is loaned more often than not at a rate less than the going rates. Additionally, the WSFHC offers AMAZING down-payment assistant programs that loan down-payment money for which payments are sometimes deferred for the life of the loan or until the home is sold and is at exceptionally low interest rates (1% - 3%).

These programs are offered to first-time buyers who would have never imagined they could own a home and one aspect of qualification requires that they become well educated with regard to the home buying process and the programs that are available through the WSFHC.

That is where I step in, individuals interested in qualifying for monies available through the WSFHC must attend a 5-hour class taught by a Real Estate Professional and Mortgage Lender both of whom have been educated by the WSFHC to teach these classes and offer the first-time home buyers their certificates that lay their first step towards their dream of home ownership.

To learn more about how you can realize your dream of owning a home by taking advantage of this fantastic program available through Washington State -- Contact Us!

The KEY Team - Marketing Portfolio

To better allow potential clients an opportunity to view samples of marketing pieces that can be created to assist with the sale of their home when we work with them. I have created a marketing portfolio that will continue to be improved, but this is certainly a great start -- Check it out!

Click Here to View Our Marketing Portfolio