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    A Slogan All Buyers Should Remember

    Here’s a helpful slogan from which every homebuyer can benefit.

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    Last week, we had 230 new listings hit the market, 266 homes go under contract, 120 homes close, and we presently have 1,315 homes available throughout the CSRA. Interest rates are remaining very low, which is stimulating a lot of buyer activity; they range from 2.88% to 3.5% depending on the type of loan and your credit score. 

    That brings me to a critical point. As a potential buyer, you should remember this slogan for the time you start shopping for a home and submit a loan application: No D.I.C.E. 

    D: No more debt. Do not open any more credit cards, mess with any loan installments, or take on any other kind of debt whatsoever.  

    I: No inquiries. Avoid launching additional inquiries into your credit score. Applications for a new credit card or a loan for a car come with a credit check, and that will affect your score. 

    C: No cars. Think of this one as being representative of all big purchases; no boats, expensive furniture, or anything of that sort. 

    E: No employment changes. Since employment and income verification are a huge part of the loan process, changing jobs will almost certainly throw everything off-kilter. 

    If you feel it’s absolutely necessary to do one or more of the things that ‘No D.I.C.E.’ warns against, then check with your lender first. 

    As always, reach out to me with any real estate questions or concerns you may have; I’m always here to help, and I’ll be back soon with more market info!

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