Western New York real estate agent

Tips for Improving Your Credit Score

April 20, 2016 by dl2 Leave a Comment

Favorable mortgage rates typically go to people with credit scores indicating they pay their bills on time and in full. How can you improve your credit score before you apply for a mortgage?

First, consider where you currently stand by asking for a free credit report from TransUnion, Equifax or Experian. Next, notice your “FICO” score, which is one of the main things mortgage lenders take into account. The FICO score considers things like your payment history, amounts owed, length of credit history and types of credit used. This is the score you’ll want to improve before securing a mortgage rate. Finally, look for any errors on your credit report and fix them as needed. For disputed accounts, you can contact both the credit bureau and the lender, bank or creditor that provided the information to the bureau. Both are responsible for correcting any inaccurate or incomplete information in your report.

After you know what your current credit score is, thanks to the credit report you looked at, it’s time to figure out what you can do to improve it within the next few months.

Now’s the time to cut out spending on frivolous things you don’t really want or need. Instead of wasteful spending, start paying down your credit card debt balances, which will improve your overall credit score. Then, since you’re not overspending because you’ve made a conscious effort to avoid buying things you don’t want or need, you’re also able to pay your current credit card bills on time. This shows mortgage companies you’re serious about keeping a positive payment history rather than always making late payments.

To maximize your FICO score, get in the habit of paying all your bills on time, every time. Do your best to keep balances on credit cards low, and only apply for credit when you absolutely need it. Ultimately, mortgage lenders want to have confidence in you, and by making some changes in how you handle your bills now, you can secure favorable rates when you decide to invest in a house and seek a mortgage to make that a reality.

The Benefits of Living in a Buffalo Suburb

March 2, 2016 by dl2 Leave a Comment

Why do people move from the city to the suburbs? Usually, it’s because the lots are wider so they’re not so close to their neighbors, there’s plenty of room in the front, side and back yard for kids to run around and play, and the schools are above average. The Buffalo suburbs are popular precisely for these reasons.

Lots of married couples with little kids want the suburban experience. The suburbs aren’t lacking nearby amenities like rural areas often do, and they’re also considered safer than urban areas where people are living close together and there’s often concentrated poverty. Indeed, the suburbs of any city, including Buffalo, are generally safe, affluent, and loaded with quality shops and restaurants and schools.

As a realtor, Donna Littlefield specializes in Wheatfield, Pendleton and Amherst. These Buffalo suburbs are the epitome of what a foreigner would consider the typical, idyllic American suburb. People use cars to get to-and-fro, there are plenty of recreational activities available in nice parks and such, and things are generally kept-up, modern, and clean.

Amherst is home to the University at Buffalo, which brings a smart, diverse group of people to the area. The campus offers sporting events, concerts, art shows and more. Indeed, the university’s presence enhances the overall region with its brainy professors, creative students and many good-paying jobs for all sorts of people.

Wheatfield and Pendleton are a little more “sleepy,” in a good way. They’re the kind of suburbs people like to go home to in order to get away from the crowded, noisier urban areas. They offer nice, affordable homes. Being in between Niagara Falls and Buffalo, it’s a quick car ride to either for various entertainment options, from casinos to concerts.

Where would, for instance, soccer moms choose to live if they were moving to the Buffalo area? Wheatfield, Pendleton and Amherst are all great choices. Donna Littlefield is the realtor to connect buyers with homes for sale in these quality Buffalo suburbs. Call her today at 716-578-1788.

What is an Escrow Account Used For?

February 2, 2016 by dl2 Leave a Comment

An escrow account is a bank account typically utilized by your mortgage lender to pay certain property-related expenses on your behalf. These expenses can include property taxes and homeowner’s insurance.

If you buy a house and obtain a mortgage, you’ll typically make home loan payments on a monthly basis as well as put extra money into an escrow account. So, money is added to the escrow account every time a mortgage payment is made. That money goes toward covering real estate-related expenses as needed on a timely basis.

An escrow account usually deals with a person’s specific property. The escrow holder safeguards funds, handles those funds according to the instructions they’re given, pays bills as authorized, and can close the account when all provisions of the escrow have been complied with, complete with a “Closing or Settlement Statement.”

Escrow comes from the French word “escroue,” which means a scrap of paper. The term originally referred to the deed a third party held until a transaction was completed.

While the process of escrow is primarily connected to real estate transactions, escrow accounts can also be used to provide a reliable third-party means of completing a sale. It’s not unusual to escrow vehicles, websites, intellectual property, or commodities.

Now that the world is connected online via the Internet, escrow services have gone somewhat digital, though they’re still available through face-to-face, in-person dealings. It’s quite common for home buyers to obtain and use an escrow account.

If you’re thinking of buying or selling a home or land in Western New York, real estate agent Donna Littlefield can guide you along in the process, and help you figure out whether or not you need/want an escrow account.