Credit Score | Solari Group Blog

Wednesday, March 20, 2019   /   by Hayley Baker

What Credit Score Do You Need To Buy A House?

What Credit Score Do You Need To Buy A House?




There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed!
Only 25% of the Americans have a FICO® Score between 740 and 800. Here is the breakdown according to Experian:

16% Very Poor (300-579)
18% Fair (580-669)
21% Good (670-739)
25% Very Good (740-799)
20% Exceptional (800-850)

Randy Hopper, Senior Vice President of Mortgage Lending for Navy Federal Credit Union said,

“Just because you have a low credit score doesn’t mean you can’t purchase a home. There are a lot of options out there for consumers with low FICO® scores,”

There are many programs available with low or no credit score requirement. The Federal Housing Administration (FHA) now requires a mini ...

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  real estate, homebuyers, buying, first time home buyer, solari group, credit score, market update, solano county, napa valley, for sale, market trends, home buyer tips, housing market, real estate market

Friday, February 22, 2019   /   by Nicole Solari

4 Reasons Why We’re Not Headed For Another Housing Crash

4 Reasons Why We’re Not Headed For Another Housing Crash














With home prices rising in many areas of the country, many people are worried that we’re headed for a housing crash like the one we suffered in 2008.


But here’s the thing: it’s just not true. While it’s understandable that people would look at the current market, consider it a “housing bubble,” and assume it’s going to pop, the truth of the matter is the market today couldn’t be any more different than they were before the crash of 2008.


Let’s take a look at four reasons why we’re not headed for another housing crash:

1. Banks have tightened their lending practices

The biggest contributor to the crash of 2008 was risky lending practices. Financial institutions had extremely loose standards in terms of who they’d lend to; they were giving out mortgages to people with low incomes, bad credit, and who were unlik ...

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  real estate, home ownership, homebuyers, homes for sale, buying, upgrades, loan, investment properties, solari team, credit score, freedom, property taxes, safety, market update, taxes, market trends, selling tips, interest rates, home sales

Tuesday, September 4, 2018   /   by Nicole Solari

Rents are on the Rise: Don't Get Caught in the Rental Trap!

There are many benefits to homeownership, but one of the top benefits is protecting yourself from rising rents by locking in your housing cost for the life of your mortgage.


Don’t Become Trapped 


A recent article by Apartment List addressed rising rents by stating:




“Our national rent index is up 0.1 percent month-over-month, marking the sixth straight month of increasing rents. Year-over-year growth now stands at 1.2 percent.”



The article continues, explaining that:




“Rents increased month-over-month in 62 of the nation’s 100 largest cities, down significantly from the 85 cities that saw rents rise last month. That said, rents are still up year-over-year in most of the nation’s largest markets — 77 of the 100 largest cities have seen rents increase over the past twelve months.”



Additionally, Urban Land Magazine explained that ...

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  real estate, home ownership, homebuyers, homes for sale, buying, realtor, selling, finances, first time home buyer, moving, credit score, taxes, the solari group

Monday, August 28, 2017   /   by Nicole Solari

Waiting to Move May Cost You More!

Some Highlights:

The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
In the report, home prices are compared both regionally and by state.
Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
Alaska & West Virginia were the only states where home prices are lower than they were last year.



source

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  real estate, home ownership, homebuyers, homes for sale, real estate agent, realtor, buying, selling, finances, upgrades, first time home buyer, moving, open house, decor, repairs, loan, investing, decoration, investment properties, invest, home inspection, home price, solari team, diy, credit score, safety, inspection, renovation, freedom, home security, property taxes, vacant home, escrow, furniture, clean, taxes, door

Monday, July 10, 2017   /   by Nicole Solari

How To Buy A House (Even If You Have a Less-Than-Perfect Credit Score)

Buying a home is, for many people, an essential part of the American dream. But for people with a checkered financial history – and a less-than-perfect credit score – it can feel like a dream that’s out of their reach.


But just because you don’t have a perfect credit store or a pristine financial background doesn’t mean you can’t buy a home! While it may be a bit more challenging, you can find financing and buy the home of your dreams even if your credit score isn’t quite up to the level you’d like it to be.


Here are five tips for buying a house (even if you have a less-than-perfect credit score):


1. Make Sure Your Credit Report Is Accurate


If you’re worried your financial past might prevent you from securing a mortgage, the first step is to go through your credit report with a fine-toothed comb to make sure everything is accurate and up-to-date.


Mistakes on credit reports are more common than you think. In ...

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  real estate, home ownership, homebuyers, homes for sale, real estate agent, realtor, buying, selling, finances, upgrades, first time home buyer, moving, open house, decor, repairs, loan, investing, decoration, investment properties, invest, re/max, re/max gold, home inspection, real estate team, home price, solari team, credit score

The Solari Group
Nicole Solari
DRE# 02014153

Solano Location
4820 Business Center Drive, Ste 140
Fairfield, CA 94534
707-486-5400

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1700 2nd Street Suite 222
Napa, CA 94559
707-819-9119

IDX Content is provided via the Internet for consumers’ personal, non-commercial use. Variable Price’ indicates the seller is willing to entertain offers within a Listing Price Range. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. IDX provided by Commissions Inc. Data last updated:June 16, 2019