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    What is a good credit score??

    Watch out because a good credit score may actually be bad, depending your source.

    What is considered a good credit score? Well like many things in life, the definition of “good” or “bad” will vary depending on who you ask.

    But with credit scoring it’s even more complicated…

    More than 1,000 different scoring models?!

    Yes, you read that correctly. According to Experian, by some estimates there are upwards of 1,000 or more different credit scores being used today.

    Obviously you can see why this makes it difficult to answer the question “What is a good credit score number?” because first you have to ask “What type of score are you talking about?”

    Credit score information

    By far the most important type is FICO.

    They were the original pioneers of scoring and have been around for several decades. When you apply for a credit card or mortgage, there’s a good chance the creditor is basing the decision on your FICO.

    If you want to know how good (or bad) your score is, what you really should be doing is basing that decision on your FICO score. Because after all… why care about the 1,000+ other types when only 1 of them is clearly the dominant player?

    How good is my credit score?

    If you’re talking about FICO then the range runs from 300 to 850.

    For years FICO used to report what the median score was but they stopped doing that a few years ago (citing it is “proprietary” information).

    But up until late last decade – when they did publicly release the number – the median was 723. A median means exactly in the middle; half of the scores are higher and half are lower. It’s a more accurate measure than the average credit score.

    Most sources say a good credit score range (for FICO) is somewhere between 700 and 759. And sure enough on MyFico.com they list scores within that range as likely being eligible for the same mortgage rate.

    However after the financial fiasco during the latter part of last decade, what many creditors consider to be “good” is higher than the 700 benchmark.

    Conclusion? Anything between 700 to 759 is within the good credit score range. However nowadays if you want to be conservative with your definition, go ahead and increase that bottom number by 10 or 20 points – i.e. 720 to 759 = good.

     

    Live well,

    Vincent Paige |REALTOR® | RE/MAX Showcase
    Certified Broker Price Opinion Registered Agent (BPOR)
    Florida Military Specialist (FMS)
    8934 Conroy Windermere Road | Orlando, FL 32835
    Direct: 407.256.8190 | Fax: 407.264.8073
    E-mail: vince@thepremiumproperties.com

    Live MLS!  www.ThePremiumProperties.com or call Vince Paige the Dr. Phillips Realtor.

    Orlando Homes For Sale | Orlando Vacation Homes For Sale | Vacant land in Orlando for sale | Bay Hill homes for sale | Bay Hill condos for sale | Bella Collina homes for sale | Bella Collina lots for saleEmerson Pointe homes for sale | Estates at Phillips Landing homes for sale |  Vizcaya homes for sale | Vizcaya condos for sale | Downtown Orlando Condos for sale | Isleworth homes for sale | Keene’s Pointe homes for sale | Dr. Phillips Realtor |Lake Butler Sound homes for sale | Windermere lakefront homes for sale | Windermere luxury homes for sale | Orlando luxury homes for sale | Winter Garden Luxury Homes For Sale | Winter Garden Homes For Sale |Orlando Real Estate |Dr. Phillips Realtor |Bella Collina Realtor |Isleworth Realtor |Bay Hill Realtor |Winter Garden Realtor |Orlando Real Estate Blog

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    Bay Hill homes for sale | Bay Hill Real Estate | Bay Hill Realtor

    Bay Hill club house

    Home prices in Bay Hill range from $400,000 – $5,000,000

    Homes for sale in Bay Hill

    Bay Hill is one of the most prestigious communities in Dr. Phillips, most noted for its golf course, which hosts the annual Arnold Palmer Bay Hill Invitational golf tournament. The Bay Hill golf club offers a private golf course, recreational facilities, full service salon and spa, and premier dining at three restaurants.  The Arnold Palmer Invitational, a PGA tournament is hosted here as well. The Champion, Challenger and Charger links feature 27 holes of tour championship golf, a challenging though fair test for both professionals and amateurs alike.

    There are some single family homes which overlook the magnificent greens of the Bay Hill golf course. Condominiums are also available as well.  Bay Hill is situated on the shores of Lake Tibet, which is connected to the entire Butler Chain of Lakes and makes Bay Hill a boater’s dream. All homes have deeded access to the Butler chain of lakes. Bay Hill in Orlando is great places to live and the world class Arnold Palmer’s Bay Hill Club..is a golfer’s dream.

    The Bay Hill area is located on both sides of Apopka-Vineland Road in southwest Orange County, north of Lake Buena Vista and south of the town of Windermere.

    For a private tour of Bay Hill Golf Community or to learn more about Bay Hill call 407-256-8190.

     

    Elevate your lifestyle,

     

    Vincent Paige |REALTOR® | RE/MAX Showcase
    Certified Broker Price Opinion Registered Agent (BPOR)
    Florida Military Specialist (FMS)
    8934 Conroy Windermere Road | Orlando, FL 32835
    Direct: 407.256.8190 | Fax: 407.264.8073
    E-mail: vince@thepremiumproperties.com

    Live MLS!  www.ThePremiumProperties.com or call Vince Paige the Dr. Phillips Realtor.
    Orlando Homes For Sale | Orlando Vacation Homes For Sale | Vacant land in Orlando for sale | Bay Hill homes for sale | Bay Hill condos for sale | Bella Collina homes for sale | Bella Collina lots for saleEmerson Pointe homes for sale | Estates at Phillips Landing homes for sale |  Vizcaya homes for sale | Vizcaya condos for sale | Downtown Orlando Condos for sale | Isleworth homes for sale | Keene’s Pointe homes for sale | Dr. Phillips Realtor |Lake Butler Sound homes for sale | Windermere lakefront homes for sale | Windermere luxury homes for sale | Orlando luxury homes for sale | Winter Garden Luxury Homes For Sale | Winter Garden Homes For Sale

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    Reasons to list with a REALTOR | Orlando Realtor – Vincent Paige

    1. Order a complete property profile of your house.
    2. Review the property profile for accuracy.
    3. Perform a professional Competitive Market Analysis of your house.
    4. Review Total Market Overview with Sellers
    5. Create a customized market plan that targets your most likely buyers.
    6. Develop a specialized pricing strategy for your property.
    7. Calculate an estimate of your net proceeds from the sale.
    8. Tour your property from the Buyers standpoint.
    9. Conduct a complete staging analysis of your house.
    10. Provide instructions to help your house sell at a higher price.
    11. Review interior of the house to maximize attractiveness.
    12. Assist the seller in storing large pieces of furniture.
    13. Review exterior of the house to maximize curb appeal.
    14. Assisting in making the exterior as attractive as possible.
    15. Integrate photographs into marketing materials.
    16. Develop soon to be available postcards.
    17. Explain the advantages of seller carry-back financing.
    18. Conduct a thorough and diligent visual inspection of the property.
    19. Review the status of any encumbrances against the property.
    20. Review the status of any property tax liens against the property.
    21. Obtain copies of architectural drawings relative to the property, if available.
    22. Obtain copies of permits relative to the property.
    23. Accurately measure the house.
    24. Develop advertising copy for marketing.
    25. Place house description in the Realtor Multiple Listing System.
    26. Place photographs of your home on Realtor Multiple Listing System the day of the listing
    27. Place photographs on Realtor´s personal website(s) which means it’s also shown on at least 16 other websites!
    28. Place photographs on Broker´s website
    29. Place photograph of home in stores around area.
    30. Place photograph of home in the Real Estate Book for your particular area
    31. Provide a Real Estate Relationships Disclosure.
    32. Assist with the completion of an Exclusive Listing Agreement.
    32. Assist in completion of the Agency Agreement Addendum.
    33. Sign agent’s portion of Agency Agreement Addendum.
    34. Review Flood disclosures, if required.
    35. Review Lead Paint Disclosure requirements.
    36. Review Competitive Marketing Analysis.
    37. Explain commission splits between Listing and Selling brokers.
    38. Review how commission split affects house showings.
    39. Review benefits and drawbacks of using real estate lock box.
    40. Arranging for pest control inspection of the house.
    41. Arranging for contractor’s inspection on the house.
    42. Arranging for roof report of the house, as necessary.
    43. Arranging for septic tank inspection on the house, as appropriate.
    44. Arranging for county inspection, as necessary.
    45. Assisting in evaluation of inspection reports.
    46. Assisting in correction of significant items in reports, as requested.
    47. Provide Sellers Disclosure Statement to seller.
    48. Place professional For Sale sign on property, as authorized.
    49. Place appropriate riders on sign.
    50. Place brochure box on sign if requested by Seller
    51. Place lock box on property, as authorized.
    52. Directly contact agents with qualified buyers about the property.
    53. Respond to agent questions about the property.
    54. Respond to buyer questions about the property.
    55. Design attractive color flyer for the property.
    56. Obtain a report on academic status of local schools.
    57. Prepare flyers for potential buyers showing financing options.
    58. Assist homeowner in preparing home for showing.
    59. Print color flyers.
    60. Provide flyer display stand for inside the house.
    61. Deliver flyers to seller.
    62. Provide copy of MLS listing to seller.
    63. For vacant properties, coordinate the use of rental furniture if requested by Seller
    64. Order copies of Covenants, Conditions & Restrictions, as necessary.
    65. Place appropriate information into Multiple Listing System.
    66. Take professional photo of the property to be taken for MLS.
    67. Prepare Just Listed postcards for potential buyers.
    68. Mail Just Listed postcards to potential buyers.
    69. Meet and show potential buyers the property.
    70. Follow-up with agents who have shown the property to customers.
    71. As needed, obtain other real estate agents´ opinions of home pricing strategy.
    72. As needed, obtain other real estate agents´ opinions of home staging.
    73. Provide weekly status report to seller by email, phone or in-person.
    74. Review local news sources for changes in neighborhood.
    75. Assist seller in conforming with Fair Housing Laws.
    76. Prequalify potential buyers before offers are made.
    77. Periodically review progress of marketing program.
    78. Send Thank You notes to agents who show the property.
    79. Keep brochure box filled with flyers.
    80. Periodically update MLS information.
    81. Preview all competing houses for sale.
    82. Coordinate presentation of offers to purchase the house.
    83. Negotiate with potential buyers in a professional, unemotional manner.
    84. Review the financial impact of any offers with seller.
    85. Write Counter-Offers, as necessary.
    86. Make sure escrow is open in a timely manner.
    87. Make sure initial deposit is placed into escrow in a timely manner.
    88. Make sure deposit increases are placed into escrow on time.
    89. Make sure that buyer applies for a loan with contracted period.
    90. Provide access to property to inspectors, as necessary.
    91. Make sure seller provides all necessary documents.
    92. Assisting seller in transferring utilities to buyer.
    93. Keep seller informed on status of escrow
    94. Reminding seller to turn on utilities in new home
    95. Reminding seller to obtain insurance on new home
    96. Assisting seller in moving to a new residence.
    97. Providing keys to buyer.
    98. Other miscellaneous activities that help a house sell.
    99. Review Closing Statement with Sellers.
    100. ALWAYS available for questions/concerns on a timely basis

     

    Thanks for your time,

    Vincent Warren Paige, Jr.
    REALTOR® | RE/MAX Showcase
    Certified Broker Price Opinion Registered Agent (BPOR)
    8934 Conroy Windermere Road  |  Orlando, FL  32835
    Direct: 407.256.8190 |  Fax: 407.264.8073
    E-mail:vince@thepremiumproperties.com
    Website: http://www.ThePremiumProperties.com

     

     

     

     

     

     

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    Why do i need a Pre-Approval ?| Orlando Realtor Vince Paige RE/MAX Showcase

     

    man1

    There are two ways of estimating your borrowing power: Bottom-line-qualification and On-line-approval. A “Bottom-line-qualified” and “pre-approved” are not the same thing. There is a difference. Looking at a mortgage calculator on line and determining how much a mortgage payment will be, depending on the down payment and price of the home, does not count as a pre-approval.

    If you are in the early stages of the home-buying process, getting pre-qualified by a lender gives you a good idea of what you can borrow. You simply provide income, debt, and down payment figures. The lender will then provide you with an estimate of how much house you can afford. This is often done quickly, over the phone, and you have no obligation to use that lender to get a mortgage. Being pre-qualified simply means you have looked over the numbers and have determined you can afford a certain mortgage payment. A bank may have even done this for you but to be pre-approved means the bank will actually loan you that amount of money to buy a home.

    Pre-approval requires a more in-depth look into your finances to determine exactly how and why you can afford a certain home.

    Lenders will sit down with you and go over all your income, debt, liabilities and assets to determine a monthly payment you can comfortably afford. You usually don’t want more than 25% going toward a housing payment. The bank will factor in all your current debts and decide if you can afford to pay back the loan based on all your other responsibilities. Lenders have stricter requirements now and require proof of your income and funds in the bank. Credit scores also make a big difference in the interest rate and fees you will pay for a loan.

    The bank will provide letter that indicates the amount that they are willing to provide as a loan. Unless you intend to purchase a new home with cash, you will need to obtain a mortgage pre-approval letter because most sellers today will not even entertain the idea of selling their home to you without a pre-approval letter provided to them first. It would be a waste of the seller’s time and energy to try to sell you their home if you can’t qualify for the mortgage.

    Would you like it if you were trying to sell your home and  you took your house off the market and placed it in a pending status only to waste your time will someone who can’t qualify for a loan?

     Bottomline

    You wouldn’t want to find your dream home only to discover half way through the process that you can’t remotely afford it. It will save everyone time, hassle, and of course heartache.

    If you are looking to get pre-approved for a mortgage loan, then there are several items that you will need to provide to your mortgage professional or mortgage broker. The first step in the pre-approval process is to find a mortgage professional or mortgage broker that you feel comfortable working with. The more information that you provide upfront for your mortgage broker, the better off you will be in the long run and the less chances you have for any problems or delays in closing. To obtain a pre-approval letter, your lender will ask you to provide them with a number of documents that will create a “snapshot” of your current financial health and your ability to borrow. For each adult who will be on the loan application, the lender will require:

    30 days worth of pay stubs

    60 days worth of bank statements for every bank account

    • W-2’s for the last 2 years
    • Tax Returns – ALL pages for the last 2 years
    • Photo ID’s
    • Name, address, telephone and fax of your employer(s) for the past 2 years
    • Name, address, telephone and fax of your landlord(s) for the past 2 years.

      **If you are self-employed, you will need tax returns from the last two years

    A current mortgage-specific Credit Report will be needed for a pre-approval to be issued, and must be pulled by the issuer in many states. Generally, if you’ve been pre-approved for a credit-based mortgage without a credit check by the issuer of the letter, that pre-approval letter isn’t worth the paper it’s printed on.

    With this information and your permission, they will run your credit, verify your employment & your earnest money deposit, and create a file that is ready to be submitted to the underwriter once you have found your home. Your lender will then be able to provide you with a mortgage pre-approval letter that you can give to buyer’s agent.

    Your income level will help the mortgage broker determine your DTI (debt to income ratio) and give you an accurate purchase price for a new home.  There are a variety of factors that will greatly affect your interest rate.  Lower credit ratings and scores will equal higher interest rates which will mean a higher mortgage payment.  The amount of your down payment will influence your interest rate as well.  The type of loan you are going to get will affect your interest rate and down payment as well as other fees charged in connection with your loan. Pre-approval is usual quick and relatively painless if you have a 620 or better . Usually you can get pre-approved within 24 hours with the necessary income verification and supporting paperwork on hand. Online sites can pre-approve you immediately, but you’ll have to provide the verification to a lender eventually.  You are under no obligation to use that lender for the loan (though most buyers will).

    Once the borrower is pre-approved, they can begin shopping for homes that fall within the amount of the pre-approval offer. A pre-approval is subject to the borrower’s continued good credit and usually remains valid for 60 or 90 days, after which the borrower must reapply in order to make sure the loan offer is still good.
    This information also gives us the confidence to negotiate a good price for the home.  The seller will be confident that they are entering into a contract that is strong and the chance that the sale will go through will be high.  Sellers really want to sell their homes and there is nothing more frustrating for them then to go to the effort of showing their home to someone who isn’t serious about buying

     

    Highest and best regards,

     Vincent Warren Paige, Jr.
    REALTOR® | RE/MAX Showcase
    Certified Broker Price Opinion Registered Agent (BPOR)
    8934 Conroy Windermere Road  |  Orlando, FL  32835
    Direct: 407.256.8190 |  Fax: 407.264.8073
    E-mail:vince@thepremiumproperties.com

    A current mortgage-specific Credit Report will be needed for a pre-approval to be issued, and must be pulled by the issuer in many states. Generally, if you’ve been pre-approved for a credit-based mortgage without a credit check by the issuer of the letter, that pre-approval letter isn’t worth the paper it’s printed on.

    With this information and your permission, they will run your credit, verify your employment & your earnest money deposit, and create a file that is ready to be submitted to the underwriter once you have found your home. Your lender will then be able to provide you with a mortgage pre-approval letter that you can give to buyer’s agent.

    Your income level will help the mortgage broker determine your DTI (debt to income ratio) and give you an accurate purchase price for a new home.  There are a variety of factors that will greatly affect your interest rate.  Lower credit ratings and scores will equal higher interest rates which will mean a higher mortgage payment.  The amount of your down payment will influence your interest rate as well.  The type of loan you are going to get will affect your interest rate and down payment as well as other fees charged in connection with your loan. Pre-approval is usual quick and relatively painless if you have a 620 or better . Usually you can get pre-approved within 24 hours with the necessary income verification and supporting paperwork on hand. Online sites can pre-approve you immediately, but you’ll have to provide the verification to a lender eventually.  You are under no obligation to use that lender for the loan (though most buyers will).

    Once the borrower is pre-approved, they can begin shopping for homes that fall within the amount of the pre-approval offer. A pre-approval is subject to the borrower’s continued good credit and usually remains valid for 60 or 90 days, after which the borrower must reapply in order to make sure the loan offer is still good.

    This information also gives us the confidence to negotiate a good price for the home.  The seller will be confident that they are entering into a contract that is strong and the chance that the sale will go through will be high.  Sellers really want to sell their homes and there is nothing more frustrating for them then to go to the effort of showing their home to someone who isn’t serious about buying

    Why do i need a Pre-Approval ?| Orlando Realtor Vince Paige RE/MAX Showcase
    5 (100%) 1 vote

    Safety and Crime in Orlando | Vince Paige REALTOR – REMAX Showcase

    Crime and safety in orlando

    I have been asked many times , what are the “safe” areas in Orlando?

    Here are some resources to utilize when exploring neighborhood options in Orlando and surrounding areas.

    https://www.crimereports.com/

    http://www.spotcrime.com

    http://www.orlandosentinel2.com/data/crime/

    http://www.trulia.com/real_estate/Orlando-Florida/community-info/

    http://www.familywatchdog.us/

    http://www.neighborhoodscout.com/neighborhoods/crime-rates/

    Live well,

    Vincent Warren Paige, Jr.
    REALTOR® | RE/MAX Showcase
    Certified Broker Price Opinion Registered Agent (BPOR)
    8934 Conroy Windermere Road  |  Orlando, FL  32835
    Direct: 407.256.8190 |  Fax: 407.264.8073
    E-mail:vince@thepremiumproperties.com

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