Four Questions Your Realtor Probably Won’t Answer

Adapted from an article by Stephanie Booth | Realtor.com

Your Realtor can answer almost any question about a house you’re interested in, but if you ask certain questions, you probably won’t get an answer. By not responding, they’re staying on the right side of the Fair Housing Act, which prohibits housing discrimination based on race, religion, sex, or family/economic status.

Here are the top 4 questions agents are asked, but most likely will not answer:

Is this a good place to raise a family?

Realtors who either encourage or discourage home buyers based on a question about children can face consequences in court. If you want to know this info, you’ll have to do your own research.

What’s the neighborhood like?

A friend will answer this question but your Realtor won’t because the answer could be deemed prejudicial. To check an area’s ethnic makeup, visit the U.S. Census website, which has all the details you want to know.

Is this area safe?

The answer to this could be construed as racist or classist, so most agents will keep their lips sealed on this one. Visit MyLocalCrime.com to access recent local crimes or vandalism.

How are the schools here?

A Realtor has to be careful not to let their answer be construed as a coded message about race. He or she can suggest websites that rank schools (ie, Great Schools and School Digger).

Whether you’re a buyer or seller, I can answer specific and legal questions about a property. If I’m not allowed to answer your question, I’ll direct you to the answers where you can check them out yourselves. If I don’t know the answer, I’ll find it for you. I strive to make your real estate transactions pleasant and successful.  My clients will vouch for that–check here to read some of their testimonials! http://bit.ly/2p573wu

What’s the Best Credit Score to Get A Good Mortgage?

So you want to buy a house and you wonder how your credit score will impact your ability to get a mortgage loan with a good interest rate.

A perfect credit score is 850, but all scores 760 and above are considered to be in the best range. Mortgage lenders want your business and will offer you loans with the lowest interest rates.

A good score is from 700 to 759 and a fair score is from 650 to 699. Since a lower score means you’ve had some late payments or other dings on your credit history, lenders see you as more likely to default on your home loan. They may still give you a mortgage, but it will be at a higher interest rate.

Credit scores below 650 are considered poor. This doesn’t necessarily mean you can’t qualify for a loan, but it may be tough, and you’ll pay a higher interest rate.

If your score is lower than you’d hoped, you can raise your credit score. Just keep in mind that you can’t improve a credit score overnight, which is why you should check your credit score annually—long before you want to start house hunting.

If you want to buy a home or you know someone who’s looking to buy a home, contact me to learn your financing options. I can refer you to experienced mortgage loan officers who will consider your financial standing and help you get the best possible loan. Then we can begin your home search.