The Venture Report

Credit scores are a big factor in determining if you’ll qualify for a loan. Here’s some tips to help.

8 Ways to Improve Your Credit

Credit scores, along with your overall income and debt, are a big factor in determining if you’ll qualify for a loan and what loan terms you’ll be able to qualify for.

1. Check for and correct errors in your credit report. Mistakes happen and you could be paying for someone else’s poor financial management.

2. Pay down credit card bills. If possible, pay off the entire balance every month. However, transferring credit card debt from one card to another could lower your score.

3. Don’t charge your credit cards to the maximum limit

4. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year

5. Don’t purchase big-ticket items for your new home on credit cards until after the loan is approved. The amounts will add to your debt.

6. Don’t open new credit card accounts before applying for a mortgage. Having too much available credit can lower your score.

7. Shop for mortgage rates all at once. Too many credit applications can lower your score, but multiple inquiries from the same type of lender are counted as one inquiry if submitted over a short period of time.

8. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management.

To obtain a complete copy of the publication, “knowing and understanding your credit” visit http://www.homebuyingguide.org

5 Factors That Decide Your Credit Score

Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score.

1. Your payment history. Whether you paid credit card obligations on time.

2. How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.

3. The length of your credit history. In general, the longer the better.

4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay promptly.

5. The types of credit you use. Generally, it’s desirable to have more than one type of credit – installment loans, credit cards and a mortgage, for example.

For more on evaluating and understanding your credit score, go to http://www.myfico.com

Click Here to Visit Venture Companies Today for ALL Your Real Estate needs – Servicing North Carolina

Mortgages are Expensive right? Not in our world. Most Realtors ,  Mortgage Brokers and Banks are caught up in a Perceived Reality that the closing cost for a Mortgage should be about 1 to 3% of the loan. This causes problems on all transactions. 

Here is how:
Purchase Price = $250,000 Continue reading “The Truth about Closing Costs & How to Make Money”

Part 3

Hello again, and thank you for taking time and allowing me to share with you who we are at Venture Companies. Here is part 3 of this 4 part series on (Who We Are and What We Do). If you missed part 1 (Venture Realty) or 2 (1st Metropolitan Mortgage) please take some time to read the posts and understand everything we can offer you.

Venture Investments

On our Investment side, we have a niche in Charlotte. I got my start in Real Estate when I bought my first Investment Property. Through my experience I realized the amount of money that could be made when buying at a discount. I wanted to offer the public access to what only Professional Investors knew about buying and selling of Investment Properties, thus Venture Investment was created. We have a full time Investment Director, who is constantly looking for Foreclosures every day.  We actually go out and take pictures of these properties and upload then to our website and email them to our members in the Exclusive VIP buyers club.

Continue reading “Venture Companies, who we are and what we do! Part 3″

Part 2

Hello again, and thank you for taking time and allowing me to share with you who we are at Venture Companies. Here is part 2 of this 4 part series on Who We Are and What We Do. If you missed part 1 (Venture Realty) please take some time to read it and understand everything we can offer you when Buying and Selling a home. Here is Part 2

1st Metropolitan Mortgage

We are a branch of 1st Metropolitan Mortgage and have access to every lender in the country. We are a wholesale broker, which allows us to get better pricing than any retail bank. We know the best loans available and pride ourselves with the ability to fit our clients into the loan that’s best for them. In some cases where you can not qualify now, we can coach you on what to do in order to qualify in 6 months.
Continue reading “Venture Companies, who we are and what we do! Part 2″

Venture Companies, who we are and what we do!
Part 1

Hello again, and thank you for taking time and allowing me to share with you who we are at Venture Companies. By first explaining who we are, I felt I should tell you why we started. Venture Companies was started originally because I had a vision that Real Estate and Mortgages should all be together, and that they should all support one another. I created Venture Companies to be a One Stop Source for all your Real Estate, Mortgage Financing, and Investing needs. Under the Venture Companies umbrella, we have Venture Realty, Venture Investments, and a branch of 1st Metropolitan Mortgage all together. As we grew I found that Attorneys should be close by and that every division should work closely together to provide the convenience of having everything in one place for our clients. I feel the Venture Companies is so blessed to have the customers we do and I wanted to let all of you know every service we offer our customer. In this four part series I will go into detail about every division of our company below.
Continue reading “Venture Companies, who we are and what we do!”

Hello, I’m Larry Thompson, Founder and President of Venture Companies, the most diverse Real Estate firm in Charlotte, NC today. I want to welcome you to my blog, a place to share my insights, experiences and the lessons I’ve learned from being in the Real Estate, Mortgage Financing and Investment industries for many years. Continue reading “Welcome to The Venture Report”