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70 Ways For Home Buyers To Save Money When Buying A Home: Tip #5

Improve your credit

The higher your credit score, the lower your interest rate and the less you need to put as a down payment.

Your credit is the most important criteria when determining your rate. You can save yourself thousands of dollars in interest if you can raise your score a few points. The difference in interest over 30 years between a loan at 5% and a loan at 6% is over $50,000!

Having the best credit you can have is essential when getting a mortgage.

Lately, the mortgage industry has turned to what are called credit scores. Your credit score is a number that tells the lender how risky you are as a borrower. The higher your credit score the lower your rate. If you have a credit score above 700 you can be assured you will get the best rates around. If you score is below 620 you might have to get a sub-prime loan which will cost you more. If your score is in the 600's it really depends on the lender, so use a good mortgage broker that can shop your loan to several lenders.

You can easily improve your credit score. Here are some suggestions:

1. Do not apply for credit before you get your credit checked for your mortgage. Every time you check your credit, your score will go down.

2. Pay down your balances as much as possible. The more room you have on your credit cards and loans, the higher your score.

3. Check your credit yourself, and get any erroneous derogatory information removed. You can get a free copy of your credit report by going to annualcreditreport.com. Do not go to freecreditreport.com- they are nothing more then a scam.

To learn more about how to get your credit scores and improve them fast, visit CreditSparkle.com to get all the information. This site even has a short course on credit repair if you already know you have bad credit.

One more thing to keep in mind, many people think their credit is worse then it really is. Let your mortgage broker tell you how bad or good it is. You might be pleasantly surprised.

On the other hand, if you have not checked your credit report in a while, you might be in for a nasty shock. It is estimated that 80% of all reports contain inaccurate information. And most of the other 20% of reports that contain no errors have no credit either. So, if you actually have credit, your chances of having one or more errors on your report are much greater than 80%.

That is another reason to work with a mortgage broker who knows about credit. The right broker can help you get your credit fixed and then submit your loan to the lenders and thus save you a ton of money. If you went to the banks first, there is very little chance they would help you fix your credit.


Jesse Elliott got a rebate of $2,934!

Daniel Stidham saved $4,138!

Attony Wilson got $4,418 back!

Tamara Simon saved $2,658!

Ali Mustafa got rebated $7,400!

Piar Momin got $6,542!

James Gandi made $2,428!

La Sandra Melveaux got a rebate of $5,468!

Ernesto Maniego saved $2,746!

Neelum Nawab got $2,224!

Rolando Rubio made $2,350!

Farhan Shaikh saved $3,510!

Stephen Johnson got $2,426!

Bina Saleh got back $3,850!

Anthony Lawson made $2,016!

Manoj Kaul got a rebate of $2,588!

Sabiha Kidwai saved $2,350!

Baber Kahn Saved $3,816!

John Tumuno Made $3,698!

Gene Hoekstra got back $6,012!

Hussain Budhwani got back a whopping $4,090!

And that's just a few.

How much can you save?

"At first I didn't believe it, so I had Abby sign an agreement that he would give me 2% back at the closing. And he did.
Thanks so much."
- Allen Sams

"Abby gave me back $5,261 at closing. That bought us alot of furniture!"
- Alex Carr

"You would think that since Abby is giving the majority of the commission to us, that the service would not be as good as the full price agents. But you would be totally wrong. I have bought 4 houses before and Abby was by far the most knowledgable and competent and all the agents I have ever used.
- Sayeed Ali

"As an investor, it pays to have a real estate expert in my corner. Even the best investors need help from time to time, and Abby has always been there to help me out of a jam. I call him even before I call my real estate attorney.
-Ameen Kamadia

"Your service is phenomenal! I loved it. Where else can you get a better deal? I have already told several of my friends about you and I will continue to do so. I still can't believe how much money I saved. It's lucky for me that our paths crossed."
-Daniel Stidham

"Abby worked with us through the whole process of buying our first home. It was so wonderful to have the negotiations and the mortgage taken care of by one person."
- Robert Proctor.

"As an investor, I look for properties myself. Then I use Abby as my Realtor. I save money every time!"
- Raul Gonzalez .

"Abby, your service was so amazing, I have already told my family and co-workers about it. I can't stop talking baout it. Thank you so so much!"
- Jean Uribe.

"If you are buying a house, you must use Abby. You can't beat the deal he's giving you."
- Roland Armstrong.

"We were trying to buy a house for over a year, but couldn't save enough money. Getting 2% back let us buy our house 4 months ahead of scedule!"
- Cynthia Greer.


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