BostonREB Ford Realty

Boston Real Estate Blog
Ford Realty

617-720-5454
  • Home
  • High Rise Condos
  • Apartments
  • Search Boston Condos
  • About
  • The Boston Condo Market Report
  • April 26, 2018
  • Back Bay
    • Back Bay condos for rent
      • Back Bay condo rentals $1,500 – $2,000
      • Back Bay condo rental $2,000
      • Back Bay condo rental $2,500
      • Back Bay condo rentals $3,000
      • Back Bay condo rentals $3,500
      • Back Bay condo rentals $4,000 per month
      • Back Bay rentals over $5,000 per month
    • Back Bay condos for sale $300,000
    • Back Bay condos for sale $350,000 – $400,000
    • Back Bay condos for sale $375,000
    • Back Bay condos for sale $400,000
      • Back Bay condos for sale $450,000
      • Back Bay condos $475,000
    • Back Bay condos for sale $500,000
      • Back Bay condos $550,000
      • Back Bay condos for sale $575,000
    • Back Bay condos for sale $600,000
      • Back Bay condos for sale $650,000
      • Back Bay condos for sale $675,000
    • Back Bay condos for sale $700,000
      • Back Bay condos for sale $750,000
      • Back Bay condos for sale $775,000
    • Back Bay condos for sale $800,000
      • Back Bay condos for sale $850,000
      • Back Bay condos for sale $875,000 – $900,000
    • Back Bay condos for sale $900,000
    • Back Bay condos for sale $1,000,000
    • Back Bay condos for sale $1,500,000
    • Back Bay condos for sale $2,000,000
    • Back Bay condos for sale $3,000,000
    • Back Bay condos for sale $4,000,000
    • Back Bay condos for sale $5,000,000 and above
    • Back Bay condos for sale $10,000,000 above
  • Beacon Hill
    • Beacon Hill real estate history
    • Beacon Hill condos for sale
      • Beacon Hill condos under $500,000
      • Beacon Hill condos for sale $600,000
      • Beacon Hill condos $700,000 – $800,000
      • Beacon Hill condos $900,000 – $1,000,000
      • Beacon Hill condos for sale $1M – $2M
      • Beacon Hill condos for sale $3M – $4M
      • Beacon Hill condos for sale $5,000,000 and above
      • Beacon Hill condos for rent
      • Beacon Hill apartments for rent $1,500 – $2,000
      • Beacon Hill apartments for rent $2,000 – $2,500
  • Charlestown
    • Charlestown condos for sale
      • Charlestown condos under $400,000
      • Charlestown condos $500,000
      • Charlestown condos $600,000
      • Charlestown condos $700,000
      • Charlestown condos $800,000
      • Charlestown condos $900,000
      • Charlestown condos $1,000,000 and above
    • Charlestown condos for rent
  • Fenway
    • Boston Condos for sale in Fenway
      • Fenway condos for sale under $500,000
    • Boston Fenway condos for rent
  • Financial District
    • Boston condos for sale in the Financial District
    • Boston Financial District Rentals
  • Leather
    • Boston condos for sale Leather District
    • Boston apartments Leather District
      • Boston condos for sale $500,000
  • Midtown
    • Boston Midtown condos for sale
    • Boston Midtown condos for rent
  • Seaport District
    • Boston Seaport District condos for sale
    • Boston Seaport District condos for rent
  • South Boston
    • South Boston condos for sale
    • South Boston condos for rent
  • South End
    • South End condos for sale
    • Boston South End condos for rent
  • Waterfront
    • Boston Waterfront condos for sale
      • Boston Waterfront condos under $500k
    • Boston Waterfront condos for rent
BostonREB Ford Realty > Credit information

Credit information

by

  The Trump Blog, I thought the information in Trump’s blog would be worthy to share with you.

The article talks about the fact that “basically ALL lenders use “risk-based pricing” or “tiers” when determining what interest rate to offer. The methodology behind this is to fairly compensate lenders for the risk they are taking by lending money.”

The magical way that they determine just how much of a risk you really are is by using a mysterious number we all know as a credit score.   

The article goes to say that there are “5 ways a person’s credit score is derived.”  It also goes on to say how the various parts of our financial lives are weighted to come up with the credit score.  According to the article, the breakdown is as follows:

35% – Payment History 30% – Amounts Owed/Balances 15% – Length of Credit History 10% – Types of Credit 10% – New Credit Inquiries/Accounts

The article goes on to say that:

Now more than ever, every FICO point matters and keeping our scores maximized will allow us to potentially save thousands of dollars in interest over our lifetimes. For example, with Fannie Mae or Freddie Mac backed financing, a borrower will pay over ½% more in rate if they put 20% down and have a 719 credit score rather than a 720.  My advice is to be vigilant in your participation of activities which may lower your scores and beware of too many inquiries. It is said that inquiries can cost you 3-5 points each time your report is pulled. 

If your credit score is high (over 760), congratulations!  You’ve been doing something right! 

But if it isn’t as high as you’d like, here are some ways to increase your score.

  1. Pay down your credit cards and revolving debt.
  2. Don’t use your whole credit line every month, even if you pay your balance off in full every month.
  3. Ask a friend or family member to add you as a card user to an established credit card.  (You don’t have to use it, just be listed as an account holder.)
  4. Dispute old negative charges if they are incorrect.
  5. Look for any errors and contact the creditor and ask them to correct the information.

Most importantly, use your credit wisely.  It’s much easier to have a good handle on your credit score if you never abuse your credit to begin with.

Comments

comments

Filed Under: Uncategorized



Ford Realty Inc.

137 Charles St,
Boston, MA 02114
617-720-5454
realtyford@yahoo.com

Recent Posts

  • Massachusetts ranks ‘Best State for Millennials’
  • Massachusetts top 5 in the country: Good news for the Boston condo market
  • Buying a Boston condos is cheaper than renting one
  • Boston condos: 2018 Earth Day
  • Boston condos for sale: Low inventory for $500k and under
  • Myths about buying a Boston condo
  • Multi-generational housing
  • First-time home buyer profile
  • Becoming a Boston landlord for the first time
  • A story about a Boston real estate agent
  • Interesting real estate stuff
  • Informative video for Boston condo buyers
  • When buying or selling a Boston condo: Think rationally
  • Rising Boston condo prices helps build wealth
  • When buying a Boston condo view the condo fees
  • Boston condo buyers: Getting pre-approved
  • Boston condos and Zillow estimates
  • Zillow announces it will sell homes directly to buyers
  • What it costs to sell a Boston condo
  • Boston condos for sale: The art of the deal
  • Becoming a Boston condo investor
  • Boston condos for sale harder to find
  • Boston condo buyers: Difference between price and cost
  • Boston condo buyers: Do you know what PMI is?
  • Living in your Boston condo alone? Meet Fribo

Copyright © 2018 All Rights Reserved Boston ReB Ford Realty

BostonReB