Nikki Owens Realtor

02/14/2022

02/01/2022

The number one ☝🏾 question I get asked when it comes to purchasing a home, 🏡 is what does my credit score need to be to get approved? 🏡
My answer, it depends! 🗒 There are lenders who accept a credit score as low as 500 and there are some who require a higher score. Although credit is 🔑, it’s not the only factor when it comes to getting a preapproval. Want to know more, let’s talk about your real estate goals, here’s a link to schedule your free consultation
If you’re claiming 2022 to be your year of homeownership, you need to have a conversation with me! Let’s talk real estate!
Nikki Owens
Licensed in the state of Georgia

Cell-706-380-6938 phone 📞

2 Corinthians 5: 7 For we walk by faith and not by sight.

01/31/2022

1. 🗣 CREDIT KARMA CANNOT QUALIFY YOU. Those scores are VANTAGE scores. You need FICO scores.

2. FICO scores are used in 90% of lending decisions. If your credit repair “specialist” doesn’t tell you where to obtain your FICO scores.... 🔥 em’.

3. There are a bunch of FICO scores. USUALLY FICO 8 is used for credit cards and personal loans. To buy a house 🏠 you need
🎯 Equifax Beacon 5
🎯 Experian 2
🎯 Transunion 4

Download the Experian Credit Works app or The MyFICO app to get your mortgage scores if you’re serious about buying this year or sign up for a trial and get all your scores for $1 at creditchecktotal dot com

4. They take all these scores and the MEDIAN SCORE (the middle one) is used to qualify and offer you a rate 🤷🏽‍♀️. For example your scores are
🎯 Equifax Beacon 5 = 630
🎯 Experian 2 = 711
🎯 Transunion 4 = 657

The 657 is what underwriting will use to determine eligibility and offer a rate

5. You need AT LEAST a 500* for FHA or a 620 for conventional some programs may allow lower mortgage scores but you’ll pay 💰 for it, trust me

6. 🗣 BUYING A HOUSE IS NOT ALL ABOUT YOUR SCORE. DTI MATTERS
DTI is Debt to Income — how much your monthly expenses are vs how much you make a month 🤷🏽‍♀️ Can you reasonably afford a house??? Now you wishing you didn’t get that Benz that’s killing your budget 🤦🏽‍♀️

7. Student loans kill the dream. If they’re in default you’ll be in a system called CAIVRS where all government debts that are delinquent are kept. You CANNOT get a government backed loan (VA/FHA/HUD) if you already owe the government 🗣 SIS THEY AINT GIVING YOU ANYMORE MONEY UNTIL YOU DO RIGHT BY THEM 😒… and even if somebody claim they can “delete” student loans - they’re still there - like a nagging ex.

8. Also if you have a large number of student loans (I’ve seen credit reports with $200k PLUS in student loans). If you’re not on IBR plan you should be GET ON IT. Most lending guidelines require what’s reporting as your monthly payment be used for your debt when calculating your DTI. So if your current payment of $400 can be reduced to $120 and you can now get a bigger home loan and still work towards paying off your student loans

9. Lastly, if you’ve read this far I know you’re serious. If you’re serious and can afford the cost of owning a home but may not have the down payment saved there are down payment assistance programs that will give you a grant to be used as a down payment.

I’m creating homeowners in 2022

Ask me how to get money towards your down-payment and money back at closing.

Tag your friends that want to buy a house🏠, fix their credit, tag your friends in real estate. Tag any and everyone 🥳. Check comments for description of book contents

01/18/2022

This gem will be gone soon!

01/18/2022

The number one ☝🏾 question I get asked when it comes to purchasing a home, 🏡 is what does my credit score need to be to get approved? 🏡
My answer, it depends! 🗒 There are lenders who accept a credit score as low as 580 and there are some who require a higher score. Although credit is 🔑, it’s not the only factor when it comes to getting a preapproval. Want to know more, let’s talk about your real estate goals,schedule your free consultation!
If you’re claiming 2022 to be your year of homeownership, you need to have a conversation with me! Let’s talk real estate!
Cell (706)380-6938
Email [email protected]
2 Corinthians 5: 7 For we walk by faith and not by sight

01/14/2022

The Fed expects to end its mortgage stimulus program by March or April of 2022. This program is what was keep interest rates low. That could mean significantly higher mortgage rates in the first quarter of the year. Nows the time to purchase! Reach out to me for a great lender referral and lock in those low rates!

12/25/2021

Christmas eve contract contract congratulations Ryan!!

12/07/2021

New build alert!!

08/20/2021

“The decline in time-on-market has slowed for the first time in nearly four months, indicating that some properties are sitting on listing portals for a little longer. These market trends point to a positive development for buyers as we enter the crucial home buying season of 2021. Additionally, compared to last year, the number of newly listed properties is also increasing, and the sharp inventory losses of recent months have moderated.” Norada

Looking to buy or sell a piece of real estate? Grab you a Realtor who will educate, advocate and inform every step of the way……to help you achieve your Real Estate goals 💪🏽🏡

Book your FREE homebuyers consultation today and let’s get you pre-approved

Nikki owens Realtor
Servicing Georgia

06/27/2021

Did you know you can get approved for a mortgage loan with some lenders with a 550 credit score if you have more down payment? Different lenders have different minimums and requirements. It’s a case by case situation. There are 100% loans that have a minimum score requirement of 580. Of course having a higher credit score Will get you a lower interest rate, but if you have the money and not the score, you can buy down that rate. Want see if you ready to buy, reach out to me and I can connect you with some awesome lenders.