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

Here is how:
Purchase Price = $250,000

Selling Realtor—Tells the seller to expect to pay $3,000 to $5,000 in closing cost for the buyer because they are going to ask for it.

Buying Realtor—Gets the buyer to get pre-qualified and tell them how much to expect t in Closing Costs. The Realtor says, we can ask for this to be paid by the seller and they will pay it if they want to sell.

The costs between a regular 1% origination loan and a true NO COST Loan is usually 3/8th to 1/2% difference in rate. This means that if you could have gotten 6% with $5,000 in total closing costs, you could get 6.5% for $0. Why would you take a higher interest rate? If you don’t take the rate, you are saying that you know the mortgage market is at the lowest it will be in the next 5 years and it will never be any lower than it is now. The reason 5 years is important is because that is your PayBack period. That is how long it is going to take you to make up closing cost you paid $5,000 with the monthly difference in payment of about $81/month.

If you take the higher rate, then if the rates drop the day after you close, you can refinance and float down with the market for p and then Go Down and then Go Up and then Go Down), you will win.

So with the example above:

Seller—loses $5,000 off the asking price because an inexperienced Mortgage Broker or Banker told the buyer that this is what I can do.

Buyer—although they think they didn’t pay for it, they really did because they could have bought the house for $5,000 less. That means they are paying interest on $5,000 extra for the time they own the house and they have to pay it back when they sell.

Buyer—could have refinanced in the next 6 months and received the 6% they were willing to pay $5,000 to get for Free 6 months later when the market does what it normally does and that is (Go Up and then Down)

We have know this for years and this is why we bring so much value to all of our customers. We keep track of your mortgages for you for life. We do what makes sense. Even if you have just paid $5,000 for financing, we will still be able to put you in our system and call you when it is possible to save you money.

Call me directly for free consultation.
Phone: 704-597-9077
Contact Larry Thompson Click Here

Visit Venture Companies Website – Charlotte North Carolina Real Estate Experts

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.

What we have done is make sure that YOU are protected. We disclose what type of house, which neighborhood, subdivisions, or area that the possible property is located in. Our staff performs title searches, appraisals, inspections if possible, up to date rental rates, and other comps.  We fully disclose everything we have access to, so YOU fully understand and are educated about the Investment you will make.

When purchasing one of our Investment Properties, everything happens on a first come first serve basis. Whoever calls us first is the client we work with on that one property. The only way we can take everyone serious when dealing with this much opportunity for profit is make sure that anyone who shows consideration in making a offer for one of these property is pre-qualified by us.

There is money to be made and let us show you how to get your hands on it. Whether you want to earn instant equity or you want to generate cash flow, give us a call.

Thank you again for your time, and keep looking for Part 4 to follow shortly. Please don’t hesitate to call myself or any staff member at Venture Investments – Charlotte North Carolina’s Real Estate Experts  (704) 597-9009 or Visit the Venture Companies Website Here

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.

We have a program that assures you will always get the best rate available. We manage your loans and if the rates do drop, we call you and drop your rate for you… and it is all FREE!!!! That is just part of the service we will provide for you.

We don’t believe in unnecessary fees or closing costs when they aren’t needed, so it is easy on you. We still make money on the loan, but more importantly you make a lot of money by not paying up front costs or any costs whatsoever. When the rates go down your rate goes right along with them.

Thank you again for your time, and keep looking for Parts 3 and 4 to follow shortly. Please don’t hesitate to contact us at Venture Companies or 1st Metropolitan Mortgage. (704) 597-3009

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.

Venture Realty

Like anything, if you don’t have a good supporting cast, you will fall flat on your face. I am very lucky to be surrounded by some of the best agents and staff in the Charlotte area. With this staff I feel we can provide the services that will beat your expectations.

In our Realty Section, we offer more than anyone else. Through our marketing side, special photography, TV / Radio Commercials, and websites, your listing will be seen by more people, sell faster, and for the most money. When it comes to buying a home we will go the extra mile to help you get into the home of your dreams. We can help you if you feel stuck in your current home or feel like you don’t have any money to put down.

We pride ourselves being the best Real Estate Company in Charlotte, not to make the most money or the most sales, but just being the best. I have said it before you can either quit using out of date “old school” selling techniques or you can end up being the laughing stock of the neighborhood. While many home sellers are dropping prices again and again in hopes of attracting a buyer, I use innovative offers to attract buyers. You need to know what you are getting into when you hire an agent. When you hire Venture Realty, we put all of our services in writing right up front so you always know exactly what we are going to do to get your home SOLD. Check us out at www.VentureNC.com if you want to find out more information about us.

Thank you for your time again, and keep looking for Part 2, 3, and 4 to follow shortly. Please don’t hesitate to contact us at Venture Realty. Contact us Today (704)597 -9009

Let me first begin by giving you a little background about myself. I graduated from Clemson University in 1994 with a degree in Finance and have an MBA from University of North Carolina at Charlotte. I served 9 years in the South Carolina National Guard as an Engineer Officer where I gained invaluable experience. I got my Real Estate license in 1999 and formed Thompson Realty along with my wife, Kim, who’s also a graduate of Clemson with an MBA in Accounting from UNCC. I began investing in properties in the Charlotte area and bought and sold so many properties, that my Mortgage Broker at that time wanted me to start doing my own Mortgages. After learning how to make the Real Estate and Mortgage businesses work together, I formed Venture Realty in 2003, where we combine the Real Estate, Mortgages and Attorneys all under the same roof.

In 2003, I became the #13 ranked Rookie Mortgage Broker in the nation.

By 2007 I was ranked #15 nationally on Loan Volume alone. I currently serve as 1 of 22 national members of RMG (Realty Mastermind Group), a group of Top Real Estate Experts in the U.S., who sell between 100 -500 homes a year. Our sole purpose is to share best practices and information on current markets strategies. I’ve also been the only agent in Charlotte, to be featured in the book “Billion Dollar Agents – Lessons Learned 2006”. To be featured in this book, you had to achieve or will achieve 1 Billion Dollars in sales in your career.

Today, under the global heading of Venture Companies, we’ve developed into a ONE STOP SOURCE for all your Real Estate needs. Our current 7,000 sq. ft. office houses Venture Realty, a full service Real Estate Firm, a branch of 1st Metropolitan Mortgage, a National Mortgage Company and Venture Investments, a company specializing in finding foreclosures and Real Estate Owned Properties. We also have a Property Management company that services the rental market and an in-house Attorney that closes all of our real estate transactions while providing legal consultation to our clients. By having all of these services under one roof, I feel it gives our clients the convenience and satisfaction of having all their needs met in one place – something nobody else can provide.

Thank you for your time and logging on to this site. I look forward to creating a place to share my experience and knowledge with those of you who want to gain knowledge and continuously learn about the changing Real Estate market. Keep watching for new additions.