10 Credit Tips

The Holy Grail of all credit scores: 850. On the widely used FICO credit score scale, approximately one in every 200 people achieves perfection.

The perks of having a perfect or even excellent credit score (think 740 or higher) are undeniable. It puts the ball completely in the corner of the consumer rather than the lender. You’ll often have lenders fighting for your business, and in nearly all instances, you’ll be offered the best interest rate by lenders, meaning you’ll have the lowest possible long-term mortgage and loan costs of any consumer.

Here are 10 credit tips I’ll share with you that should help in your pursuit of an 850 credit score:

  1. SET UP AS MANY AUTOMATIC PAYMENTS AS POSSIBLE.

Reduce the possibility of a late payment and eliminate the “I forgot” excuse that ensures that you’re never late on your bills.

Setup autopay so you never miss a payment, or bill pay reminders to receive notifications when your bills are due.

A history of on-time payments helps show lenders that you can manage credit responsibly. A payment that is late 30 days or more is often reported to the credit bureaus.

0 late payments for maximum credit points

2. DON’T CARRY A BALANCE IF YOU DON’T HAVE TO

If you can, pay your credit cards off each and every month. One of the greatest misconceptions is that you need to carry a balance on your credit cards to improve your credit score, which just isn’t true. As long as you’re paying your bill on time each month, even if that bill is paid off in its entirety every month, then you’re going to see a long-term positive benefit in your credit score. Now that you know you don’t have to leave a balance on your card, here’s how much you should be swiping:

3. USE LESS THAN 30% OF YOUR AVAILABLE CREDIT

If you use too much of your available credit, you may not have enough credit when you need it, but most importantly lenders will think you’re spread thin financially if you use every dime of your credit limit.

Use less than 30% of your available credit. If your credit card limit is $1,000 only use MAXIMUM $300 on that card. But keep in mind that using some available credit and paying it off immediately may be better than not using any credit at all.

Use up to 10% of credit limit for maximum credit points

4. DON’T CHECK YOUR CREDIT SCORE EACH MONTH

Another somewhat common misconception is that you need to stay on top of your credit score like a hawk. Having a few inquiries a year is normal, but people with too many inquiries within a short period could be seen as applying for multiple new credit lines, which is an indicator that someone could be financially overextended.

Your credit score can take a long time to adjust upward, limit your credit score checks to between two and four times annually. 

0 credit checks within 2 years for maximum credit points

5. DON’T BE AFRAID TO INCREASE YOUR CREDIT LIMIT

If you’re a compulsive spender, fear of increasing your credit limit would be justified. In all other cases, I’d suggest cardholders embrace the idea of higher credit limits. Yes, increasing your credit limit will likely involve your lender taking a hard look at your credit report, and it may result in a temporary loss of a few points on your credit score. But over the long term it could help lower your credit utilization rate, which will have a considerably more positive impact on your credit score as long as you remain responsible with your spending.

$50,000+ credit limit for maximum credit points

6. KEEP GOOD-STANDING ACCOUNTS OPEN AND USE THEM FROM TIME TO TIME

One of the bigger errors consumers make is closing good-standing credit accounts because they believe credit card companies will view the action as “responsible.” Some believe that by having fewer accounts, they’ll be demonstrating to lenders that they can responsibly manage their credit – but that is NOT the case. Keep your oldest credit account open and in good standing.

The age of your oldest credit account shows lenders how much experience you have handling credit. So don’t close old paid off accounts, not only will it not help, but it can damage your score.

25+ years old credit account for maximum credit points

7. ONLY OPEN ACCOUNTS WHEN IT MAKES FINANCIAL SENSE

Opening a credit account makes sense when it’s an exceptionally large purchase, such as a house or car, or when it’s a large purchase that would strain your checking or savings account. In other words, avoid opening multiple new credit accounts just to save 10% on that $29 shirt you want.

Only apply for credit when you NEED it, and once you open an account, make sure to manage it by paying your bill on time and only using as much as 30%.

Open no more than 2 accounts within 2 years for maximum credit points

8. KEEP CAR / HOME INQUIRIES WITHIN A SHORT TIME PERIOD

If you’re shopping around for credit accounts like a mortgage or an auto loan, try to keep your inquiries within a short time period. The Vantage Score 3.0 model counts all inquiries that appear in your credit file within a 14 day window as a single inquiry.

Run your credit once, ask them to give you a copy of your full report to use when shopping for loans.

9. BECOME AN AUTHORIZED USER

Simply put, an authorized user is someone who is granted access to another person’s credit-card account. Becoming an authorized user on a responsible person’s credit card can be a quick path to building credit without a credit check.

If you already have great credit established, adding a trustworthy authorized user to your card can help you earn more rewards more quickly, while helping someone else build his or her credit. But as you’ll see, mutual trust is key to an authorized user relationship.

 Be sure to investigate before making the decision to add or be added as an authorized user: https://wallethub.com/edu/authorized-user/24717/

10. FOCUS ON YOUR REVOLVING DEBTS FIRST

If you happen to carry a balance on your credit cards, it’s important for consumers to focus on paying off their revolving debts first.

Whether you realize it or not, FICO actually takes the types of debt you pay into account when calculating your score. These two types of debt are revolving and installment. Revolving debts typically have higher interest rates and your minimum payment is based on the amount you owe. Department store credit cards are a good example. Installment loans are fixed loans of a lengthy time period, such as a mortgage or car loan. Paying down your revolving debts first often means paying less in interest.


Hopefully these 10 tips will get you on your way to 740+. If you need unique help or have questions, feel free to schedule an appointment and we can get you on the free path to a good score. Simply fill out the form below.


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All data is deemed reliable but is not guaranteed accurate by the RLS or Century 21. See Terms of Service for additional restrictions. © 2020. Century 21 Allstars. All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. We are an equal housing opportunity provider. Consistent with applicable law, we do not discriminate on the basis of race, creed, color, national origin, sexual orientation, lawful source of income, military status, sex, gender identity, age, disability, familial status (having children under age 18), or religion. Equal Housing Opportunity. 

294 Homes For Sale in Long Beach, CA

LONG BEACH, CA

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Click the following link to view the Listings:
https://matrix.crmls.org/DE.asp?k=4928994XPGW6&p=DE-486656036-511

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BUYING | SELLING | CONTACT ME

All data is deemed reliable but is not guaranteed accurate by the RLS or Century 21. See Terms of Service for additional restrictions. © 2020. Century 21 Allstars. All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. We are an equal housing opportunity provider. Consistent with applicable law, we do not discriminate on the basis of race, creed, color, national origin, sexual orientation, lawful source of income, military status, sex, gender identity, age, disability, familial status (having children under age 18), or religion. Equal Housing Opportunity. 

No Social Security Number required for Home Purchase!

We can now do Individual Tax Identification Number (ITIN) loans!

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Undocumented residents that couldn’t obtain a loan even though they were qualified financially can now purchase a home with a NEW loan program for residents with an ITIN.

What does that mean?

If someone does not have a SS number, frequently the company they work for will set them up with an ITIN so that they can be employed. The individual will then file their taxes under the ITIN.

Even though the ITIN shows that the person has been working and paying taxes, previously they would still not have been able to get a loan because of the requirement for a SS number.

Now, one of the programs I work with has waived the SS number requirement. If you have any friends or family that have been turned down because they don’t have a SS but have been filing taxes for 2 years with an ITIN we can get them a loan.

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BUYING | SELLING | CONTACT ME

All data is deemed reliable but is not guaranteed accurate by the RLS or Century 21. See Terms of Service for additional restrictions. © 2020. Century 21 Allstars. All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. We are an equal housing opportunity provider. Consistent with applicable law, we do not discriminate on the basis of race, creed, color, national origin, sexual orientation, lawful source of income, military status, sex, gender identity, age, disability, familial status (having children under age 18), or religion. Equal Housing Opportunity. 

Duplexes for Sale

If you or someone you know is looking for something more specific, CONTACT ME and I would be more than happy to send you updated listing in specific cities, price points, and features.

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Click the following link to view the Listings:
http://matrix.crmls.org/DE.asp?k=4928994XPGW6&p=DE-417092984-129

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BUYING | SELLING | CONTACT ME

All data is deemed reliable but is not guaranteed accurate by the RLS or Century 21. See Terms of Service for additional restrictions. © 2020. Century 21 Allstars. All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. We are an equal housing opportunity provider. Consistent with applicable law, we do not discriminate on the basis of race, creed, color, national origin, sexual orientation, lawful source of income, military status, sex, gender identity, age, disability, familial status (having children under age 18), or religion. Equal Housing Opportunity. 

10 Biggest Benefits of a VA loan!

thank-you-veterans

The VA loan: Better than FHA and conventional loans?

There is a “right program” for every mortgage borrower, but for many, the VA loan stands apart for its combination of low rates, aggressive underwriting, and secondary benefits.

Backed by the U.S. Department of Veterans Affairs, VA loans are designed to help active-duty military personnel, veterans and certain other groups become homeowners at an affordable cost.

The VA loan asks for no down payment, requires no mortgage insurance, allows flexible guidelines for qualification among its many other advantages.

VA-FLYER

Here’s an overview of the 10 biggest benefits of a VA home loan.

1. No down payment on a VA loan

Most home loan programs require you to make at least a small down payment to buy a home. The VA home loan is an exception.

Rather than paying 5, 10, 20 percent or more of the home’s purchase price upfront in cash, with a VA loan you can finance up to 100 percent of the purchase price. The VA loan is a true no-money-down opportunity.

2. No mortgage insurance for VA loans

Typically, lenders require you to pay for mortgage insurance if you make a down payment that’s less than 20 percent. This insurance, which is known as private mortgage insurance (PMI) for a conventional loan and a mortgage insurance premium (MIP) for an FHA loan, protects the lender in the event that you default on your loan.

VA loans require neither a down payment nor mortgage insurance. That makes this a VA-backed mortgage very affordable upfront and over time.

3. VA loans have a government guarantee

There’s a reason why the VA loan comes with such favorable terms. The federal government guarantees that a portion of the loan will be repaid to the lender even if you’re unable to make monthly payments for whatever reason.

This guarantee encourages and enables lenders to offer VA loans with exceptionally attractive terms to borrowers that want them.

4. Your ability to shop and compare VA loans

VA loans are neither originated nor funded by the VA. Furthermore, mortgage rates for VA loans aren’t set by the VA itself. Instead, VA loans are offered by U.S. banks, savings-and-loans institutions, credit unions and mortgage lenders — each of which sets its own VA loan rates and fees.

This means you can shop around and compare loan offers and still choose the VA loan that works best for your budget.

5. VA loans don’t allow a prepayment penalty

A VA loan won’t restrict your right to sell your home if you decide you no longer want to own it. There’s no prepayment penalty or early-exit fee no matter within what time frame you decide to sell your home.

Furthermore, there are no restrictions regarding a refinance of your VA loan.

You can refinance your existing VA loan into another VA loan via the agency’s Interest Rate Reduction Refinance Loan (IRRRL) program or switch into a non-VA loan at any time.

6. They come in many varieties

A VA loan can have a fixed rate or an adjustable rate. It can be used to buy a house, condo, new-built home, manufactured home, duplex or other types of properties.

Or, it can be used to refinance your existing mortgage, make repairs or improvements to your home, or make your home more energy efficient. The choices are yours. A VA-approved lender can help you decide.

7. It’s easier to qualify for VA loans

Like all mortgage types, VA loans require specific documentation, an acceptable credit history and sufficient income to make your monthly payments. But, as compared to other loan programs, VA loan guidelines tend to be more flexible. This is made possible because of the VA loan guaranty.

The Department of Veterans Affairs genuinely wants to make it easier for you to buy a home or refinance.

8. VA loan closing costs are lower

The VA limits the closing costs lenders can charge to VA loan applicants. This is another way that a VA loan can be more affordable than other types of loans. Money saved can be used for furniture, moving costs, home improvements or anything else.

9. The VA offers funding fee flexibility

VA loans require a “funding fee”, an upfront cost based on your loan amount, your type of eligible service, your down payment size plus other factors. Funding fees don’t need to be paid as cash, though. The VA allows it to be financed with the loan, so nothing is due at closing.

And, not all VA borrowers will pay it. VA funding fees are normally waived for veterans who receive VA disability compensation and for unmarried surviving spouses of veterans who died in service or as a result of a service-connected disability.

10. VA loans are assumable

Most VA loans are “assumable,” which means you can transfer your VA loan to a future home buyer if that person is also VA-eligible.

Assumable loans can be a huge benefit when you sell your home — especially in a rising mortgage rate environment. If your home loan has today’s low rate and market rates rise in the future, the assumption features of your VA become even more valuable.


HOW TO BUY A HOUSE: CLICK HERE | INTERESTED IN SELLING: CLICK HERE

For more help contact me.

All data is deemed reliable but is not guaranteed accurate by the RLS or Century 21. See Terms of Service for additional restrictions. © 2020. Century 21 Allstars. All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. We are an equal housing opportunity provider. Consistent with applicable law, we do not discriminate on the basis of race, creed, color, national origin, sexual orientation, lawful source of income, military status, sex, gender identity, age, disability, familial status (having children under age 18), or religion. Equal Housing Opportunity. 

Sold in Compton, CA!

Congratulations Elida & Raul!

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Raul & Elida listed their starter home for sale in 2015 with an agent, and after about 80 days, 1 offer that disappeared, and appointments after appointments, they decided to cancel the listing, and wait. Thankfully my friend Haydee referred Elida to me, we met, sat together and came up with a marketing and financial game plan in June. They listed their home for sale in 2015 for $325,000 and were unsuccessful. We were aiming to close at a $350,000 sales price considering the comparables, and the amount they wanted to net from the sale. After some preparations, and marketing, we had our first Open House and received over 20 offers on their home! We opened escrow and for unknown reasons, the buyer decided to cancel escrow. We were all frustrated, but sometimes in real estate… THINGS HAPPEN. Luckily we had a house that was HOT on the market and the buyers decided to cancel within their inspection period so not too much time was lost. One weekend later we opened escrow again with an additional $2000 in their offer, sometimes “bad” things happen for very good reasons.

We did encounter a few more hiccups with the city of Compton and their Pre sale requirements, but after the cities delays we aimed for $350,000 but CLOSED escrow with $370,000… A number we never discussed.

Of course when you’re selling something as important as a house, daily communication is key. After only a few months, I’ve grown to love the Perez and Jimenez family very much! Its a blessing to be able to assist and add quality people to your circle of friends.

BUT somehow, they always think of me when its supposed to be all about them!!!

Thank you Elida & Raul for choosing me, & for gifting me with Raider tickets!!! Yes!

Now my boyfriend and I get to celebrate with them in Oakland on my birthday weekend, because they are Raider fans also!

Ultimately, this is supposed to be more than just buying and selling… the experience should be something you’ll never forget, more than just hard work… its an accomplishment that deserves to feel special.

Congratulations on the sale of your starter home Elida & Raul! Details on the New Home Coming Soon!!!

FOR INFORMATION ON HOW TO BUY A HOUSE: First Time Buyer

IF YOU’RE INTERESTED IN SELLING: Selling


Call or Text (323) 543-1881 For all of your Real Estate Questions.

Estrada, Desiree

Desiree Estrada | Century 21 Allstars #01981121 |  r_black_white.gif Equal_Housing_Logo_1.png

Sold in Highland, CA!

Congratulations Limias Family!!!

Manuel and his family were looking for a couple of months as they were renting in a  home that was about to be sold and had decided to purchase their first home instead of continuing to rent and pay someone else’s mortgage. After feeling neglected and feeling as if they weren’t actively looking with their agent, they decided to move on before they were left with no more time.

Manuel decided to re qualify with Jorge Martinez – Bay Equity; they took me on as their Realtor and we looked at 9 homes our first weekend together. After shopping in Fontana, and Rialto, they decided to expand to Highland, CA where they closed escrow on a completely remodeled, 4 bedroom, 2 story home while staying $40,000 below the initial budget! While in escrow, we negotiated all repairs to be made, and they received stainless steel microwave with range, and dishwasher to match.

I was blessed to have met them all, they are such a kind and amazing family, and it was an honor to represent them as best as possible.

Congratulations to the new residents of Highland, CA!

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Sold in Los Angeles, CA!

CONGRATULATIONS DENI & JUAN!!!

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I’m so blessed to be able to congratulate the sweetest family on their new investment homes! Plural. because they purchased a TRIPLEX!

I had the opportunity to assist Stephanie (Deni’s sister) in the sale and purchase of her home and Stephanie introduced me to Deni & Juan. Deni & Juan are the owners of the company “Trims and More” that is expanding and were looking for a property that can help house their products/ continue to grow their business. We began our journey in Mixed use properties and found that the financing aspect for commercial and residential properties was a bit tedious. We moved on to searching for Commercial only properties for their company, and found something that would have been perfect until we did further research on the building type, etc. and ultimately didn’t pass the criteria. We looked ceaselessly for the perfect property that could meet their needs until Juan drove by this triplex and asked me to look into the details.

After some time, waiting on tenants, coordinating with Sellers that were on vacation,  and city research for permits, we opened escrow! 30 days later, Deni & Juan are now owners of a property that will pay itself, and automatically has $10,000 equity!

I hope their future plans for the building will help grow their business, but regardless, this purchase is a true asset!

Thank you for allowing me to assist you! Ive had the privilege to meet most of your family, and everyone is beyond wonderful! Love you all so much, I will always be here for you all!!! CONGRATULATIONS AGAIN!

-D’E

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“From $500 a month – to owning my own home…”

Hello,

     I wanted to share my fathers journey to show that a financial and personal plan can lead to home ownership. He is a self employed Artist in the industry and is now living in a 4 bedroom remodeled home with my stepmother and teenage brother. Here is my fathers testimonial below:

“From a 500 dollar, a month stipend to owning my own home in three years”

-John Zender

5 years ago, I was asked by a pastor friend if I would take a spiritual challenge, the challenge was to drop everything I was doing and assist him in his vision of church planting in the MacArthur park area. I told him I would pray about it and get back to him, well I did pray and it seemed like most of the doors I was expecting to open were closing, that made me wonder if maybe working with the church was what God wanted me to do. The church could only offer me a $500 stipend every month, I was commuting from Torrance to Highland park every day so I was spending $200 a month on gas alone. Another thing they would offer is studio space for free, now that seemed interesting since I was neglecting my art career for years. I worked with the church for three years, helping with outreach ministry, running a new location, promotional materials and other things. I hung in there for three years doing small art projects to help offset the expenses, on the third year the church could no longer offer the stipend but offered a larger studio space near the downtown LA area. I knew this was now the time I had to begin to prepare for what I really wanted to do with my career. I went back into painting my own personal work and pulled out about 50 new easel works and several mural projects. One of those mural projects was a continuous evolving mural at metroflex gym in Long Beach. That project allowed me to gain exposure in the fitness genre and got the attention of the owner of The Camp. He allowed me to paint some of his gyms and informed me that they were planning on opening more locations. During this time, I was now living in Torrance with my in laws in a small one room location, I knew I had to make some serious decisions about my career and my life. I rented an art studio in San Pedro and began to work hard trying to save as much as I could. At first, I was just trying to follow the advice of Dave Ramsey in saving $3,000 for an emergency fund, and later a need to save for materials for my business since the gym franchise was moving faster than I expected. I consulted with my daughter, Desiree Estrada who is a real estate agent with century 21, about the possibility of trying to buy a house for space, (one thing artist really need is physical space). She gave me the real estate breakdown of the two to three-year income tax review plus the credit check, and of course if I qualified the down payment and closing costs. I then asked what if I wanted to buy a house now… She then said “we can try to review your income taxes next year for this year and if you can clear over 50K Net a year you could qualify…. So, my son and I began to challenge ourselves into trying to save and of course make as much as we could by not over spending and even hiding our savings in accounts that had no ATM attached to them. We knew we would have to pay the IRS next year for that income but we saw it as an investment for that house. Goals, discipline and strict coordination was all me and my son thought about. I remember working with youth and trying to share the information of the 7 habits of highly effective people by Stephen Covey with them, (Be Proactive, begin with the end in mind, put things first, think Win Win, understand before being understood, Synergize and Sharpen the saw). Now I had to live these qualities and share them with my son. In January of 2017 I did my taxes and cleared 40K Net and paid a lump sum to the IRS…with much help from Desiree’s team at century 21, I got approved for a loan and in June of 2017 the month my son graduated from Jr High with Honors, God blessed us with a 4-bedroom house with lots of space we closed escrow on that same month and the beginning of a new journey has begun. I plan to build a studio and produce as much new work as I can…

John Zender

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Thank you for reading… I hope this can inspire you or someone you know. Very excited for them, and I am here to assist anyone who is looking to begin their mortgage plan as well. 


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How to Sell Your Home

How to Sell Your Home

Selling your home, is not a walk in the park, it definitely requires a lot of work and planning. This video will give you a general idea of how to begin your selling journey. There are a lot of factors and changing variables for each individual, and the information provided will be general. For more specific questions feel free to contact me direct. Thank you for watching the “Sellers 101” video!


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