Doug Francis | Realtor

  • Our Business
  • About Me
  • Sell Your Home
  • Contact

Warning: If You Skip this Home Buyer Tip, You Pretty Much Want a Headache

December 18, 2010 By Doug Francis

Did you think there wasn’t a top must do?

Portland Head Light House Portland ME

Credit Agency data isn’t always clear.

This isn’t a tip exclusively for first-time home buyers, so please don’t think that you are too savvy to begin with a review of your credit report. The credit report and the resulting FICO Score hold the proverbial keys to your next castle, but can also be the stealthy iceberg that sinks the ship.

Why can’t it wait?

If you need to get something removed or identified as “closed” then it is essential to understand that changes need to “season” about thirty days to show up on the report. Some information may be old and you thought it had been taken care of, but know that it often does not get updated and now is your chance to set the record straight.

But my FICO Score is 720 which is considered excellent.

My point is that the specific mortgage interest rates offered to you depend 100% on your credit report and FICO Score. Gaining 25 points in your score may place you in the best pricing, knocking off .25 to .50 on the rates lenders offer you. That can mean real savings every year. (read as $$$$)

The other issue at hand which demands your attention right now (regarding taking a look at your report) is that assuming your report is “okay” is irresponsible. I have spoken with highly motivated home buyers who, once we say down to put together a plan, finally called a mortgage guy only find out that their credit report contained three or five errors that needed correcting.

Some current Vienna VA real estate buyer clients are having to wait out a reported billing error from their doctor’s office that was on the credit report and is causing an issue (and he is a CPA). It is a bummer, but they started early enough and can wait out the time-lag it takes to fix errors.

Any changes will need proper seasoning (about a month)

Many of the credit agencies can show you your report online (once you have paid) but start with the free Annual Credit Report that you are entitled to review.

  • AnnualCreditReport.com
  • Equifax Credit Report
  • TransUnion
  • Experian

So there is a top to the “must do” list for real estate advice, and reviewing your credit report and getting your FICO score is at the top of the heap.

Related articles
  • Afraid of Delaying your Closing?(dougfrancis.com)

  • Your Credit Score Matters More Than You Think (money.usnews.com)
  • Mortgage shoppers to get credit-score alerts automatically (seattletimes.nwsource.com)
Share this with a friend...Share on FacebookTweet about this on TwitterShare on LinkedInPin on PinterestEmail this to someone

Filed Under: Blog, Home Buyer Tips Tagged With: 22180, FICO, Home Buyer Tips, real estate, Vienna Virginia

About Doug Francis

A Realtor specializing in unique and new homes around Vienna, Virginia, Doug started writing a first-hand blog about his everyday real estate experiences a decade ago. In depth, helpful and fun has always been the objective. Outside real estate, he was profiled in a commercial for Verisign's "Where the World Clicks" campaign, and was quoted in Money Magazine's Best Places to Live article on Vienna. He's a Boston University graduate who feels morning coffee is non-negotiable.

Being able to guide my clients through many real estate sales, either moving out, moving in, or just across town, has been a rewarding experience that helps when discussing a plan with a future client.

Being able to help them focus and understand our proven sales plan always eases their anxiety of this looming personal task. And, putting it into bite-sized steps always helps them get where they really want to be.

My background… I’ve been an active licensed agent in Virginia for 25 years, work at TTR Sotheby’s International Realty in McLean, and sell homes in all price ranges. I donate to the town tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Questions? Email doug@dougfrancis.com or call me at (703) 304-6827 to discuss your plans. Cheers!

Thinking of Moving?

Let me know if you want to talk about your house and getting it ready for the market. Let me know if it's a second opinion, it's okay. Start here and let's talk.
  • This field is for validation purposes and should be left unchanged.

Have a question?

Homeowners: Add a level of privacy

name withheld by request

Privacy: Remove your name

Looking for testimonials?

Read through a collection of client comments originally posted on Zillow, Google and Trulia. See what my clients say...

Looking for a Custom Home?

Insights into New Homes in Vienna VA
Home project during pandemic

It’s Okay! Pretend like you’re Getting Ready to Sell

Right now, having a do-able home project may be just what you need to reduce your stress levels. Really, it’s okay to pretend a little while improving your home and current lifestyle. Putting together plans to help my clients prepare their homes to appeal to the Vienna real estate market is always fun, but, these […]

“Doug nailed it! Within days, we had three offers, one of which not only met, but far exceeded all of our goals.”
– R. Pollard

“He truly was a partner integrating us unto the community and made it easy for us to take advantage of all Vienna has to offer.”
– A. D’Eredita

“We are so thankful we found Doug to guide us through the complex home selling and buying processes!”
– Scott and Jennie

About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I have been a full-time Realtor licensed in Virginia since 1991, and cover a big territory specializing in the Vienna real estate market and custom homes for sale.

I have unique knowledge of digital real estate marketing, and my marketing starts here. My elite clientele has been attracted to my results-oriented strategy for years, and I am accepting new clients now.

Thanks for reading, and feel free to contact me at 703-304-6827 or email me at doug@dougfrancis.com anytime!

Search for a subject

Contact

Doug: (703) 304-6827

TTR Sotheby's International Realty
6723 Whittier Avenue McLean, VA 22101

Office: 703-319-3344
Why do people hire me?

Search for homes in Vienna

Vienna Real Estate Guide

Logo for Washingtonian Best 2020
This material can only be used with written permission.

Equal Housing Opportunity

 

Copyright © 2021 · Minimum Pro Theme on Genesis Framework · WordPress · Log in

Deciding where you should start is often the most complex decision when planning a move.

I help my clients achieve their real estate goals starting with a plan.

Let’s talk, and give your dream a deadline.


Please know that we don’t share your phone number, email or any other information you provide.