Boca Raton Real Estate
One of the first things to do when you start searching for Boca Raton Real Estate is to get a preapproval from a lending institution. The way you get a preapproval is to simply call a financial institution and ask them for a preapproval. What they will then do is possibly ask to pull your credit thereby obtaining a credit report. The credit report will tell the financial institution what you credit rating is. Most banks will look at your FICA score in order to judge your credit rating. That is probably the most important thing credit wise that they look at. Years ago your credit report did not include and FICA score but now it does on most of the more conclusive reports.. Scores normally run between about 400 to 800 points. A good credit score is normally considered in the 600 range and a very good credit score is considered to be one in the 700 range. An excellent credit score would be one in the high 700s too low 800 range. The higher your credit score the better possibility you have any obtain financing from a financial institution. Some banks include finding out your credit when doing your preapproval letter and some don’t. It is best that you have your bank do that because the preapproval letter carries more weight when it states that your credit report has been examined. After your preapproval letter is completed it will be dated and can be used for 1 to 2 months while searching for a property. After that time it’s probably best to get an updated credit report with the current date on it. What this credit report will enable you to do is to have a very precise figure on exactly how much you should spend on a home with reasonable assurance up front that you will be approved and not be disappointed because you can’t get the home you like. So the next step is to find a good real estate agent with knowledge of the area your interesting in and have them send you properties to consider in that area. And then go looking for you dream home. If you are looking for Boca Raton Fl Real Estate consider giving us a call. Check back soon for the next step or two in getting the home you have always wanted!