Dallas Real Estate

This Blog is my attempt at helping to educate people about how buying and selling actually works in the Dallas area. Hearing things from Infommercials and from family and friends, who haven't bought or sold in the past 10 years, will do you no good. The market is constantly changing, and I'm here to help answer all your questions. Every once in a while, I'll be taking a break from real estate and posting some other content, so please come back often and check it out!

Monday, August 20, 2007

Mortgage Misinformation in Today's Market

I am so sick of all the articles that are being published and posted and talked about on the National News stations when they are not true. The final straw for this blog is an article I just read on http://www.dallasnews.com/ real estate section. You can read the full article here.

It says in this article that a buyer must have a minimum of 680 credit score, and that a 720 will help lower the interest rate offered. WHAT??!!

Buyers, please be aware that there are MANY lenders out there that are offering loan programs with much lower credit scores. Can you get a decent rate if you have a 500 FICO score? No, not really, though you might qualify for an FHA loan who doesn't care what the score is. Can you get a decent rate at a 600 score? Yes, probably. As long as your recent past history is in good condition and you're able to document your employment and assets, you're fine. You do NOT need a perfect credit score to get a loan.

Don't get me wrong. Some people who have decent scores aren't getting loans because they have collections out the wazooo, and they're behind on car payments and things like that. Do those people deserve loans? My opinion, NO! However, if you're current on all payments, and you have a decent (not perfect) track record, you are still VERY able to obtain a mortgage in today's market.

Please don't let news articles scare you. Call someone and ask specific questions about your specific situation for clarification before you make your own decision on whether or not you'll get approved.

Remember, I work all of North Dallas County and Collin County including Richardson, Plano, Allen, Frisco, Carrollton, Garland, Rowlett, McKinney, etc... my car will take us anywhere you need to go!!

ARE YOU PACKED YET?!

Labels: buyers, dallas realtor, dallas tx, mortgage, plano tx, richardson tx

Friday, January 19, 2007

My Trip to Chicago and Snow

Here are a couple of pictures of my recent visit to Chicago. I had never been to Chicago before and I was excited to be there. I wish I was able to be there longer to actually see some sites. We did drive down Michigan Ave for the Magnificent Mile, but didn't get to stop anywhere. We had dinner at the Navy Pier, then back to the hotel and then the airport the next day. My flight got canceled, but I did manage to hop another flight.

Maybe I shouldn't have tried so hard so I could have stayed one more night... oh well, there'll be another time!