Credit Score Calculation for New Home Purchases

Sure, you have heard about how important your credit score is for buying a new home in Atlanta, but have you ever wondered what goes into your credit score? According to the Equifax Finance blog article, “How Your Credit Score is Calculated,” there are five factors:

1. The number of accounts you have.
2. The types of accounts.
3. Your available credit.
4. The length of your credit history.
5. Your payment history.

Avoiding Common First Time Buyer Mistakes

Many first time home buyers are taking advantage of historically low interest rates and low home prices and buying a home this year. But there is a lot that goes into such a major decision, and many first time buyers fall victim to some common home buying problems. These pitfalls can easily be avoided with some knowledge and research, and the real estate pros at the Equifax Finance blog get you started off right foot in their recent article, “First-Time Homebuyers: The Four Mistakes You Need to Avoid.”    

• Know your credit score: Knowing your credit score will let you know whether or not you’ll be able to get financing and favorable financing terms/interest rates. If your score is too low, you may not be able to get financing at all. Even if you think you should have good credit, you should check it to confirm that and look for any errors in your report. You may find reporting errors or signs of identity theft; so check your credit as early as possible in your home buying process, so that you know where you stand and have plenty of time to correct errors (if you find any).
• Get prequalified: Get prequalified to find out just how much you’ll be able to afford. Taking this step will save you time down the road, and lets your agent know that you are a serious buyer. It also lets sellers know that you are a serious buyer, which could give you a leg up against other buyers, if it comes down to a bidding war.

Tips for Decorating your Atlanta Home with Second-Hand Items

A great way to give your Atlanta home or condo a fresh, new look and feel, without breaking the bank is with second-hand shopping. Spring is the best time for second-hand shopping, as many Americans look to declutter and Spring clean, they donate or consign their items, and as the weather warms up, they hold garage and yard sales.

The Equifax Finance Blog shares some tips on savvy second-hand shopping in one of its newest blog posts, “Shop Second-Hand Stores and Garage Sales Like a Pro.” Here are a few:

Organize your stops – If you will be hitting multiple garage sales, map your driving strategy the night before so you can hit the most sales possible and avoid backtracking. The article also recommends getting started early to get the best selection and to look for multi-family sales to get a lot of shopping in one stop.

• Keep a list – Have a list of measurements on things like windows (for curtains), room size (for area rugs), picture or artwork sizes (if you’re looking for new frames), etc. 

Protect Your Tax Refund Check and Identity

Keep your tax forms private to prevent identity theft.

When it comes to identity theft, many people diligently protect their internet usage and sharing of public information, but government forms like those completed at tax time are a common source of identity theft.  Around this time of year, identity theft is on the rise, as thieves come out of the woodwork to sabotage your tax return and refund. 

Make sure that you don’t give thieves a chance by being extra careful filing your taxes with some simple steps suggested by the experts at Equifax, like:

• If filing by mail, take your tax return directly to the post office. Do not leave it in your mailbox where it can easily be stolen.

Improve Credit and Protect from Identity Theft Types in 2013

January is a time for changing your ways for the better, so why not apply that mindset to your credit as well? Diane Moogalian recently wrote a wonderful article for the Equifax Finance Blog entitled, “Five Things to Boost your Creditworthiness in 2013.”

In this article, Moogalian offers readers five excellent things they can do to improve their credit and help protect from identity theft types. One of these tips reveals the importance of fixing errors you may discover on your credit report or in your mailbox. If you’ve ever gotten a bill in the mail for something you already paid for, don’t just throw it away! Take some time to dig a little deeper to make sure you haven’t been reported to collections in error.