|Real Estate Information|
Landlords Dance The FICO Fandango
Fair Isaac Corporation is the creator of the FICO credit score that is used today by most lenders to evaluate consumer credit risk. FICO scores range from a poor credit low of 500 to a best credit rating of 850.
The higher the FICO score the lower the interest rates offered by most lenders. For example here is a look at how FICO scores might affect a $150,000 30-year, fixed rate loan:
Score Interest Payment
720-850 5.64% $865
700-719 5.77% $877
675-699 6.30% $929
620-674 7.45% $1,044
560-619 8.53% $1,157
500-559 9.29% $1,238
Rates change frequently, but you can check the daily average at myfico.tk.
Fair Isaac has extended its FICO score to cover an expanded population base. This expanded FICO coverage will tap into non-traditional sources of consumer data to assess the credit risk of adults who have minimal or no credit history on file - such as recent immigrants, people with low incomes, recent widows and divorcees, and young people.
The company has tapped into non conventional ways of establishing credit scores. People pay rent, they pay catalog companies when they order something, they pay back payday loans -- there are various ways people show financial responsibility and Fair Isaac will now be gathering that information to help determine FICO scores.
An estimated 160 million Americans have documented credit histories adequate for calculating classic FICO credit scores. An estimated 50 million consumers do not. Now that will change.
For real estate investors and landlords this means that we should be able to find a few more credit worthy buyers and renters than in the past.
Make Your House Earn Its Keep
Did you realise that there is a lot you can do get an income from what is probably your most valuable asset? Not only is your property a great (long-term) investment, your home could also bring you an income while you are still living in it. Here are some ideas to make your property really earn its keep.
The Secret To Marketing Your FSBO Home For Sale
You're ready to put your home or land (house, townhouse, condo, apartment, farm, ranch, finished lot, raw land, etc.) on the market as a FSBO (for sale by owner).
Investing In Commercial Property
Why commercial property?Compared to residential property investments, commercial property offers some key advantages:Long-term secure cashflow -- Commercial lets normally have long lease contracts, with periods of 10 years and more not being uncommon. In addition to this, commercial property tenants are less likely to default on payments and even if the tenant goes into liquidation, the liquidator may continue paying the rent in order to stop the lease being forfeited.
How to Get Financing after Filing Bankruptcy
If you're thinking about buying a home but have declared bankruptcy in the past, don't give up hope. There are still ways for you to be able to find a loan, even if your credit history is less than sterling.
Is Housing and Real Estate Bubble Hype Irrational Exuberance?
Not so, says the author of this article and four real estate books including the recent "1001 Tips for Buying and Selling a Home". The upside of the hype is for real estate consumers and investors.
Selling Your Own Home: 10 More Tips
Selling your own home can be a time-consuming and frustrating process. Sometimes, though, in the right market, it makes sense to save thousands of dollars in commission and do it yourself.
Refinance Rental Property - Dont Sell It
You own a rental property for years, and never see the "big pay-off." Is it time to cash in on your investment, now that you've paid down the mortgage, and values are up? Maybe not.
Secrets of Making Money from Real Estate - Part 2
Leverage: With real estate, people and companies will lend you money to invest. How much real estate can you buy with $20,000? Probably between $100,000-$300,000, depending on the lender.
Realtors: Forget Your Address?
It's a large real estate agency, and the company depends on a steady stream of leads. The website is classy, with delightful graphic elements and layout.
FSBO - How to Prepare Your House to Sell
Did you hear that? Prices of houses in Phoenix have been jumping 5% each month for 2005 according to market experts! Some even predict that the price of housing could jump an additional 10% for the upcoming year. The shortage of houses for sales and the still relatively low interest prices are causing the price of homes not just here in Phoenix but nationwide to escalate.
Seven Tips in Choosing Maui Income Properties
Aloha! If you are interested in choosing a Maui income property, then there are some details that you should know. You might be a bit intimidated by the whole process of buying a home.
Take A Shotgun Approach
An effective real estate advertising strategy entails a 'shotgun' approach. A shotgun approach includes online internet ads, regular print ads in major real estate publications (AJC) of the property's location, as well as popular local area publications (Creative Loafing) and full use of real estate signs.
10 Easy but Essential Steps for Home Selling Success
They say that the whole process of selling up, buying new and moving on is one of the most stressful series of events any of us goes through in a lifetime: and yet with careful planning, attention to detail and a clear focus, the whole process can be relatively stress free.While there will always be factors outside the control of any home seller, those factors that fall within their control sphere can proceed fluidly and smoothly when they take the time to plan and think one step ahead.
Ten Tips For Selling Your House
One of the biggest mistakes people make when selling a house, is not understanding real estate value. It doesn't matter at all what you think your home is worth.
The Benefits of Fractional Ownership in Private Residence Clubs
A New Way to Own a Vacation Home - For the Select Few: Fractional ownership of vacation homes, also called private residence clubs, is a relatively new concept that allows you to enjoy four to 12 weeks of home ownership privileges per year at an upscale, luxury resort but at a fraction of the cost of whole ownership.If you want to own an impressive second home complete with personalized services and located in an expensive resort area but can't quite justify the expense because you'll only be using it a few weeks or months of the year, this type of real estate arrangement may appeal to you.
Does Staging Work?
Staging can involve minimal effort on the part of a seller. Merely rearranging furniture can show a house off to advantage.
Secrets of Making Money from Real Estate - Part 1
There are three investment vehicles which can make you rich. Stocks, businesses, and real estate.
Are Condo Hotels What the Orlando Real Estate Investor Has Been Looking For?
Earlier this year the Hawthorn suites in Lake Buena Vista quietly sold out all of their units in less than a month. These 540 sq.
Buy FHA HUD Homes
FHA HUD homes are those dwellings that have been acquired by the United States Department of Housing and Urban Development (HUD). The HUD oversees the Federal Housing Administration (FHA), which offers federal insurance on home mortgages.
Investment Real Estate Made Easy - Make the Most from Each Investment Dollar
When it comes to buying investment real estate, there are many schools of thought on how to get the most out of your money. Some say lease optioning your houses is the best and safest way to go.
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