If you want to buy a home, you should know your credit score is a critical piece of the puzzle when it comes to qualifying for a mortgage Lenders review your credit to see if you typically make payments on time, pay back debts, and more. Your credit score can also help determine your mortgage rate. An article from US Bank explains:
“A credit score isn’t the only deciding factor on your mortgage application, but it’s a significant one. So, when you’re house shopping, it’s important to know where your credit stands and how to use it to get the best mortgage rate possible ”
That means your credit score may feel even more important to your homebuying plans right now since mortgage rates are a key factor in affordability. According to the Federal Reserve Bank of New York, the median credit score in the U.S. for those taking out a mortgage is 770. But that doesn’t mean your credit score has to be perfect The same article from US Bank explains:
“Your credit score (commonly called a FICO Score) can range from 300 at the low end to 850 at the high end A score of 740 or above is generally considered very good, but you don’t need that score or above to buy a home.”
Working with a trusted lender is the best way to get more information on how your credit score could factor into your home loan and the mortgage rate you’re able to get. As FICO says:
Findingwaystomakeyourcreditscore better could help you get a lower mortgagerate.
“While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable. There is no single “cutoff score” used by all lenders and there are many additional factors that lenders may use to determine your actual interest rates ”
If you’re looking for ways to improve your score, Experian highlights some things you may want to focus on:
Your Payment History: Late payments can have a negative impact by dropping your score. Focus on making payments on time and paying any existing late charges quickly.
Your Debt Amount (relative to your credit limits): When it comes to your available credit amount, the less you’re using, the better Focus on keeping this number as low as possible.
Credit Applications: If you’re looking to buy something, don’t apply for additional credit. When you apply for new credit, it could result in a hard inquiry on your credit that drops your score
Movingisexpensive,butMoverEngagecanhelp!Youwillreceiveexclusive dealsanddiscountsthroughoutyourmove,including15%offHomeDepot and20%offBudgetMoving.Tapintoalltheexclusivedeals!
Connectingutilitiescanbetime-consuming,butitdoesn'thavetobewith ourUtilityConnectconcierge Thisisaone-stopshopwithtrained expertstoresearchthebestservicesanddiscountsavailableandmake theconnection.Youalsohaveaccesstoyouronlineself-serviceplatform togetestimatesandbookservices.Itʼsallinoneplace,youwillloveit!
Manageeveryaspectofmovingandhomeownershipwithyourunique personalHomeownershipPortal. Accessreal-timemarketinformation, findlocalprofessionalsandservicesyouneedtorepairorrenovateand storeallyourhomedocumentssecurely Allwithinonesimpleand convenientplatform!
Learn which features home buyers are actually looking for and trend shifts designers are seeing this year.
"Of the most notable, better designed homes are replacing bigger ones. The average size of a new home continues to inch smaller, dropping from 2,479 square feet in 2022 to 2,411 square feet in 2023, the smallest average size in 13 years “It’s related to two factors that are linked,” says Quint “First, we ’ ve seen changes in home buyer preferences. Second, housing affordability has worsened in recent years. ”
According to NAHB data, builders are acting on the trend, with 38% indicating they built smaller homes in 2023 to help support home sales and 26% indicating they plan to build even smaller in 2024 In addition to their preferences on size, home buyers are also shifting their overall design preferences, placing higher value on personalization and authenticity.
“Our homeowners are looking to personalize their homes,” says Ruthroff. “They want it to feel like it was made just for them and be significantly different than their neighbors’ homes ”
To learn what’s important to today’s buyers, the NAHB conducted its What Home Buyers Really Want (2024 edition) survey Home features that remain at the top of buyers’ wish lists include laundry rooms (86%), patios (86%), Energy Star windows (83%), exterior lighting (82%), ceiling fans (81%), garage storage (81%), front porches (81%), and hardwood flooring (81%).
Technology features are also becoming increasingly popular, with security cameras, wired home security systems, programmable thermostats, video doorbells, multi-zone HVAC systems, and energy management systems gaining significant popularity in the last decade.
Other home features that have seen growth over the past 10 years include quartz or engineered stone for kitchen countertops (67%), lighting control systems (63%), outdoor fireplaces (59%), outdoor kitchens (55%), built-in kitchen seating (53%), and exposed beams (51%)
Outside of their homes, the ideal community offers convenience, walkability, and suburban feel. Seventy percent of buyers look for nearby retail space, 66% want park areas, and 66% also desire walking/jogging trails.
Beyond the data and research, Ruthroff also identified eight design trends he witnessed from the Best in American Living Awards, NAHB’s residential design awards program. Check out his conclusions below.
Better replaces bigger
Bespoke replaces ready-made
Midcentury replaces farmhouse
Softness replaces hardness
Traditional replaces contemporary
Attached living replaces detached
Outdoor living replaces indoor
Community replaces neighborhood
March marks the end of winter and the beginning of spring, and what better way to usher in the new season than by cleaning away the metaphorical winter cobwebs for a fresher home?
With the arrival of longer daylight hours and milder temperatures, your windows are likely to see more attention, making March the perfect time to give them a thorough clean. Removing any trapped debris or pollutants will not only enhance their appearance but also help to improve indoor air quality indoors and brighten your space by maximizing natural light Increasing natural light in your home by cleaning windows is also a great way to harness the heat of daylight, which can help lower energy consumption and cut energy bills.
'One of the simplest yet most important Match cleaning tasks is to replace or clean your HVAC filters,' explains Josh Mitchell, HVAC technician and owner of Air Conditioner Lab 'Throughout the winter, filters can become clogged with dust, pet dander, and other particulates, reducing system efficiency and air quality.' We recommend checking and replacing these filters in March to ensure clean air circulation and prepare for increased use in spring and summer.
'As part of your March cleaning routine, make sure to dust and c your curtains and shutters These can accumulate dust, allergens, other pollutants over winter, reducing your indoor air quality,' Gabriella Dyson, Head of Solved at Homes & Gardens. 'Curtains shutters can also be prone to mold and mildew growth due condensation forming on windows. Cleaning them in March can to eliminate mold spores and prevent any further growth '
'Another critical task is cleaning vents and registers, which o accumulate dust and debris during the colder months,' continues J Mitchell. 'This can be as simple as using a vacuum with a b attachment to gently clean these areas to remove obstructions and improve airflow.' This easy step not only enhances system efficiency but also contributes to better indoor air quality for you and your family.
Cleaning your HVAC (heating, ventilation, and air conditioning) system in March is the most essential step in improving your indoor air quality in the transition from winter to spring. It will also ensure optimal performance, and extend its longevity.
'Don't forget to inspect and clean the outdoor unit of your HVAC system. Over the fall and winter, outdoor units can gather leaves, twigs, and other debris, hindering airflow and efficiency,' says Josh Mitchell. 'Take the time to clear away any visible debris and trim back vegetation to ensure unobstructed airflow around the unit.'
See how new paint colors look on your home... BEFORE IT'S PAINTED! Be "Color Confident" with a Virtual Color Consultation
Tell us your color preferences, and take our style quiz.
Our designers will create 3-5 initial designs for you to see online, then work with you to create more designs until you find the one you love
Enjoy that feeling of knowing you'll love the paint color after your home is painted. No more guesswork!
REQUEST A CONSULTATION