Kelly Innello | Quincy MA Real Estate, Weymouth MA Real Estate, Abington MA Real Estate


Your credit score impacts many of your important life decisions. From your ability to open new credit cards, to taking out loans for cars and houses, your credit will be checked by many companies throughout your life. Credit scores are mostly a mystery to the people who have them. Sure, you can check your credit score for free online, but when it comes to understanding your score, most consumers are in the dark. In a perfect world, we would be taught in high school and college exactly what goes into your credit score, how to build credit, and how to avoid credit missteps. Unfortunately, we don't live in that world and many of us don't find out what makes up a credit score until we're in debt from student loans or credit cards. In this article,  we'll teach you what a credit score is, what it consists of, and how it is affected by your financial decisions. And, we'll do it in an easy-to-understand way that skips all of the jargon and acronyms that are used by banks and lenders. Read on to learn everything you need to know about your credit score.

What is a credit score?

Simply put, your credit score tells lenders how safe it is to lend money to you, i.e., the likeliness of you paying back your debt to them. In the United States, credit scores are awarded by three major companies. Since they use slightly different methods of scoring your credit, your score can vary slightly between them. What they all have in common, however, is that they put together your score based on your financial history (or lack thereof). How do they come about your score?

Parts of a credit score

Think of an Olympic diver who just took a perfect dive. The judges off to the side are going to score her on a few different factors: her approach, her flight, and her entry into the water. They'll award her a number based on her dive and then those numbers are averaged to give her a score. Credit is scored in a similar way. You aren't judged just based on your payments or just based on how long you've had a credit card. Rather, you're judged based on a combination of five main things. For your FICO score (the score used by the majority of banks and lenders) those are:
  • 35% - payment history
  • 30% - current debt
  • 15% - how long you've had credit
  • 10% - types of credit
  • 10% - new credit
As you can see, the most important factors that make up your credit score revolve around how much you owe and if you pay your bills on time. Having high amounts of debt or credit cards that are maxed out (meaning you hit the spending limit), your score can be lowered. Similarly, your score can be lowered every time you miss a bill payment. However, if you do miss a payment and your score is lowered, it can be recovered by making on-time payments. Your credit score is also influenced by the length of your credit history (15%): when you opened your first credit card or took out your first loan. The longer you've been making on-time payments the better. The last two factors that make up your score are the types of credit you have (10%) and new credit (10%). Having many different types of credit (home loan, credit card, student loan, auto loan, etc.) will improve your score so long as you're making on-time payments. However, opening up new credit rapidly is a red flag for lenders that you might be in financial trouble, hurting your score.    

This Single-Family in Weymouth, MA recently sold for $310,000. This Cape style home was sold by Kelly Innello - SUCCESS! Real Estate.


97 Lake St, Weymouth, MA 02189

Single-Family

$319,000
Price
$310,000
Sale Price

6
Rooms
3
Beds
1
Baths
Location! Location! Location! Move right into this wonderfully maintained 3 bedroom cape home. The house sits on a large, manicured, lot in a quiet neighborhood adjacent to Humphrey Field. The sun-drenched, eat-in kitchen has many updates & features h/wood floors, recessed lights, granite counters & newer appliances. Go through the glass doors leading out to a large private deck, perfect for entertaining. There's plenty of parking for guests. Watch baseball in the park, hang in the yard or come inside to the spacious, open, living room; warm-up by the wood pellet stove & admire the crown molding. The home has been lovingly maintained & updated by the same owner for the last 30 years. New electrics & hot water heater. Roof has 15 years left on its 30-year warranty. It is located just a short distance to Jackson Square with easy access to the Greenbush line, highways, Whitman Pond, shopping & restaurants at Derby Street.

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The housing market presents many opportunities for homebuyers. And after the right amount of research, you're sure to find plenty of exceptional houses that suit you well. But how do you know when you're ready to submit an offer on a residence? Determining the "perfect" offer for a house is key, and if you feel comfortable with your proposal, you may be better equipped to receive a resounding "Yes" from a home seller. Improve your chances of submitting the perfect offer on a residence – here are three tips that you can use to submit the right offer on a home: 1. Consider the Home Seller's Perspective. Of course, when you submit an offer, you likely want to make a proposal that fits your needs and budget. On the other hand, you must consider the home seller and ensure your offer represents a fair deal for both sides. If you submit a "lowball" proposal, there's a strong chance that a home seller will reject it immediately. Conversely, if you submit an above-average proposal, you may wind up paying a price that exceeds your budget. To make the right offer, evaluate the home seller's price as well as the price of similar homes in an area. By doing so, you'll be better equipped to make an offer that corresponds to the current housing market. Also, don't be afraid to discuss your proposal options with your real estate agent, as this professional may be able to offer insights that you can use to boost your chances of getting a "Yes" from a home seller. 2. Prepare for Plan B. Even if you consider your offer to be fair for both you and a home seller, there are no guarantees that a home seller will feel the same way. Thus, you need to be prepared to act quickly in the event that a home seller declines your offer. If a home seller says "No" to your proposal, you can always submit another offer. Or, you may want to consider moving on and evaluating other homes that are available. 3. Be Realistic. It is essential to feel comfortable with an offer you submit on a house. And the moment things start to make you feel anxious, you may want to reconsider your options. For example, a home seller may counter your initial proposal, but you might lack the finances to meet this seller's expectations. In this scenario, you should be unafraid to walk away. That way, you can avoid the dangers associated with over-extending your budget, which could put you in a tough financial position down the line. Remember, the perfect offer on a residence is one that fulfills the needs of both a homebuyer and home seller. If you feel uncomfortable with a home seller's counter offer, you need to understand the situation and act accordingly. Submitting the perfect offer can be tricky, especially if you're dealing with a home seller who sets the bar high for his or her residence. Fortunately, your real estate agent can help you alleviate the stress commonly associated with making an offer and ensure you are fully supported throughout the homebuying process. Work toward submitting the perfect offer on a home, and you can bolster your chances of a home seller accepting your proposal.


200 Wall St., Bridgewater, MA 02324

Single-Family

$249,900
Price

5
Rooms
2
Beds
1
Baths
ESTATE SALE - Seller has never lived in property, but property is occupied until close. Property is sold AS-IS. Two good size bedrooms, living room and pass through den/office. All appliances stay- washer/dryer, refrigerator. Great size lot. Fenced and beyond. Property needs work, but great potential. New Septic in 2008. Showings M-F 7:30-4:30 and weekend with some notice. Great location close to train!
Open House
No scheduled Open Houses

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If you’re looking to take your outdoor space to the next level this summer season there are some simple changes that you can do to bring your yard to a “wow” level. 


Use Lighting In Unique Ways


You can really bring visual interest to your backyard by using lighting in unique ways. Think of adding accent lights to walls near the outdoor space (depending upon how it’s enclosed). You can also add hanging lights using a fixture like a pergola or umbrella over a table. This is not only a great way to get outdoor night lighting, but a way to define your space as well. 


Use Defining Features


As mentioned above, a pergola or even an umbrella is a great way to define the outdoor space that you have. It will also be a welcome feature to have overhead shade covering for hot summer days. The lighting that you add to these spaces will allow you to use your outdoor area the whole day through with comfort and style. 


Think Of Building Up


If the outdoor space that you have is limited, you might want to consider building up. You can make levels of sorts with your yard. This would include adding something like a cement fixture or a wooden deck. While these types of improvements aren’t exactly cheap, they can add to your backyard and give the sense that your outdoor space is bigger than it really is.


Make A Focal Point


If you have a great feature in your yard that provides a great point of vision, you want to make use of it. Be it a fireplace, a fish pond, or something else that your eyes are drawn to, you should place your tables and chairs around this point in order to create an impression. 


Make Privacy A Priority


In your yard, you want to make privacy a priority. Whether you add bushes, build a physical wall, or put up some fencing, you don’t want your neighbors to be able to see what’s happening on your property at all times. These features will also help to define the space even more.        


Use The Indoors For Inspiration


Your outdoor oasis can be a reflection of the style that you have on the inside of your home. Just because you’re outside, doesn’t mean that everything has to be different. Create a living area complete with tables, chairs, and even an outdoor kitchen if you have the resources. Convenience is key outside, since you don’t want to be running in and out of the house while entertaining and enjoying the outdoors. Be sure to complete your patio with accents like throw pillows and even outdoor table lamps to finish the look.




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