Nil Erdal,Broker Associate DRE# 00968997

Frequently Asked Questions and Tips for Every Home Buyer

8 Steps to Getting Your Finances in Order Budget Basics Work Sheet 8 Ways to Improve Your Credit 5 Factors That Decide Your Credit Score How Big a Mortgage Can I Afford? 5 Property Tax Questions You Need to Ask 10 Questions to Ask Your Lender 10 Things a Lender Needs From You 6 Creative Ways to Afford a Home Choices That Will Affect Your Loan 5 Things to Understand About Homeowners Insurance 10 Ways to Lower Your Homeowners Insurance Costs 5 Things to Understand About Title Insurance 5 Factors That Decide Your Credit Score Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score. Your payment history. Whether you paid credit card obligations on time. How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended. The length of your credit history. In general, the longer the better. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay promptly. The types of credit you use. Generally, it’s desirable to have more than one type of credit—installment loans, credit cards, and a mortgage, for example. Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2005. All rights reserved. www.REALTOR.org/realtormag If there is any way that I can assist you further, please contact me. Thank you for visiting my website and I am looking forward to helping you for your real estate needs. Best Regards, Nil Erdal Broker Associate Coldwell Banker (408) 872-3184 - (408) 973-9805 E-mail Me © Copyright 2003-2005, Nil Erdal