Colorado Dreams Broker

Keats Ann Scott
Broker Owner
491 Blue River Parkway (hwy 9)
Silverthorne, CO 80498
970-485-0793

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Yes, You Can Get a Loan If…

Last I had buyers close on a home outside of Breckenridge with a 30 year loan at 4 1/8 %, the lender said that was the lowest she had seen. The buyers were tickled because the monthly payment was easy to manage.
A couple weeks ago someone said “I didn’t think anyone was getting loans” I was surprised because from what I see loans are out there if the buyer has good credit, good ratio of income to debt, a good down payment and the property qualifies.

Speaking of good credit, there are some things you can do to keep your credit good.

Pay your bills on time. Even a late change on a small credit card can make a difference.

Don’t close credit cards you no longer use. Closing the account reduces your total credit line and a long credit history is a plus. If you don’t like the rate on the card, use it occasionally and pay off the balance each month.

Don’t open new accounts unless necessary. If you get too many credit inquiries that can affect your score.

Check your credit report at www.annualcreditreport.com, there are three credit reports listed, you are entitled on one each year, stagger them so you are checking one every four months. If you find inaccurate information have it corrected.

If you are in the midst of purchasing or refinancing a property, don’t make new purchases or run up your credit cards. Wait until after closing to buy that new living room furniture.