Friday, 17 November 2017

Real Estate Blog by Katia Melnikova: How Your Credit Score Affects How Much House You'l...

Real Estate Blog by Katia Melnikova: How Your Credit Score Affects How Much House You'l...: How Your Credit Score Affects How Much House You'll Be Able To Buy... Your credit score is now the most important factor in determini...

How Your Credit Score Affects How Much House You'll Be Able To Buy...

Your credit score is now the most important factor in determining how much house you can buy, so if you are in the market for a new home, you need to understand how it affects you.

In order to make it easy for mortgage companies to determine the risk of lending to you, they are using a system called credit scoring (also called "FICO" scores).

When lenders look at your credit report, they can instantly see how much debt you have, how reliable you are with bill payments, and if you've had any bankruptcies within the last several years.

With your credit report, lenders get a "credit score" which takes all of this information and boils it down to a number between 300 and 900. The higher the number, the less of a credit risk you are seen to be, and this is how lenders decide which types of loans you will be eligible for.

As with all new things, there is controversy over credit scores.

To be elligible for some types of loans, you require a minimum credit score without any exceptions. And credit scores fluctuate over time. In fact, the mere act of applying for credit can lower your credit score.

How to make sure you have the highest credit score possible

To maximize your credit score, you should avoid applying for any new credit cards or consumer loans.

Don't go to the discount store and take them up on the "No interest, no payments for one year" offer -- and avoid financing a car!

After you buy your home and get your mortgage you can do all of these things, but before then it's a bad idea. Buying things on credit hurts your credit score, and leaves less money for your downpayment.

Lenders also look at this figure to decide how much money they will lend you, and how much interest they will charge you on the loan.

That's why it's best to wait until after you've bought your home to go shopping for furniture and appliances. There is also another reason to wait.

Once you've bought your home, you can get a loan for up to 100% of your home's value to buy anything you want.

If you learn to play by the rules of the lenders' game, you can get the best credit score possible, which improves the odds that you can get the home of your dreams.

Thursday, 14 July 2016

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Sunday, 3 July 2016

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Wednesday, 22 June 2016

Richmond Hill - Harding - Observator

Richmond Hill - Harding - Observator Homes for Salehave seen steady price improvement month to month as well as year to year as inventory levels remain at all-time lows.

The Numbers Month to Month and Year to Year

Record Home Sales in April TORONTO, May 4, 2016 – Toronto Real Estate Board President Mark McLean announced that there were 12,085 sales reported through TREBs MLS® System in April 2016. This result, which represented a record for the month of April, was up by 7.4 per cent in comparison to April 2015.
Richmond Hill Community Breakdown in the first quater of 2016:
Observatory
Total Sales:30
Average Price$:686,433
Median Price: $567,750
Avg. SP/LP: 106%
Avg. Days on the market: 12
Harding
Total Sales: 51
Average Price: $680,251
Median Price: $430,000
Avg. SP/LP: 103%
Avg. Days on the market: 23

There are 14Richmond Hill - Harding - Observator Homes for Saleas of May 24th, that are in contract which represents 0.04% of the overall available inventory of 344homes in Richmond Hill area.

A few highlights of the currentRichmond Hill - Harding - Observator Homes for Saleare shown below and represent a nice cross section of properties available, in contract and that have sold.

This Months Most Expensive

The most expensive of allRichmond Hill - Harding - Observator Homes for Salethis month is listed at $2,420,000and includes 4 +1 bedrooms, 6batroomsh and hasOn A Premium 62 X 162 Ft Lot. 10Ft Ceiling On Main Floor,9Ft Ceiling On 2nd Floor Plus Sky Light. Porcelain Foyer Floors, Gleaming Hardwood Floor Thru Out,Coffered Ceiling In Dining Room. ...

Click to see the full report
Below are highlight properties for Richmond Hill - Harding - Observator. See more at the full report:


	Status: Active 141 Palmer Ave $2,288,000 4+1 BEDROOMS 5 BATHROOMS [ 4 FULL, 1 HALF ] LISTING MLS ID: N3495237 Listing Courtesy of: RE/MAX HALLMARK REALTY LTD., BROKERAGE
	Status: Active 30 Sunshine Dr $579,000 3 BEDROOMS 3 BATHROOMS [ 2 FULL, 1 HALF ] LISTING MLS ID: N3498075 Listing Courtesy of: CENTURY 21 ATRIA REALTY INC., BROKERAGE
	Status: Active 314 Essex Ave $1,298,000 4+2 BEDROOMS 5 BATHROOMS [ 4 FULL, 1 HALF ] LISTING MLS ID: N3499852 Listing Courtesy of: HOMELIFE/BAYVIEW REALTY INC., BROKERAGE
	Status: Just Sold 16 Constellation Cres $635,000 3 BEDROOMS 2 BATHROOMS [ 1 FULL, 1 HALF ] LISTING MLS ID: N3361793 Listing Courtesy of: CENTURY 21 HERITAGE GROUP LTD., BROKERAGE
	Status: Just Sold 130 Elmwood Ave $1,880,000 4+1 BEDROOMS 5 BATHROOMS [ 4 FULL, 1 HALF ] LISTING MLS ID: N3375361 Listing Courtesy of: HARVEY KALLES REAL ESTATE LTD., BROKERAGE
	Status: Just Sold 310 Wenlock Ave $920,800 3+2 BEDROOMS 3 BATHROOMS [ 2 FULL, 1 HALF ] LISTING MLS ID: N340109 Listing Courtesy of: RE/MAX HALLMARK REALTY LTD., BROKERAGE

See the Full Richmond Hill - Harding - Observator

Find a Home

Homes Close to Where You Work

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Mortgage & Refinance

Katia Melnikova Sales Representative Real Estate Team

Re/Max Hallmark Realty, Inc. 685 Sheppard Avenue East, Suite 401, Toronto, ON, M2K 1B6

647-500-5444

KatiaTheRealtor@gmail.com

Information valid as of May 24, 2016. Please contact us for the most current information and status of these properties.

Tuesday, 24 May 2016

141 Palmer Avenue, Richmond Hill, Ontario - For Sale! Plus Market Report