Homeownership; Step One

Homeownership; Step One

In the Shoes of Ask Gina & Company’s Social Media Maven

My family moved a handful of times when I was younger; from the East coast (not far from our current home in Northern Virginia) to California, and back again. I threatened to run away from home when we moved after my freshman year of high school. Although I was upset at the time, that move, along with all of the others, was necessary in shaping the person that I am today. Maybe I shouldn’t reveal to my Ask Gina & Company teammates the Life ADD that I suffer from. Unable to stay put for too long with desires to travel the world, I have still always craved a home base. I would love to own a home in Loudoun County; to be able to have something that is mine and can be passed down to posterity. Knowing what you want is always the first step to obtaining it but what comes next? If you know that you want to purchase a home in Northern Virginia, the next step is to reach out to a local mortgage company to have your credit checked in order to find out what kind of loan and how much of a loan you qualify for.

              Last week I spoke with Melissa Bell from McLean Mortgage in Ashburn, Virginia and, after asking her what she does on a daily basis in the Keller Williams Loudoun Gateway office, she asked me if I would like to meet with her and have my credit checked. I accepted the offer, as I had never checked my credit score before and was unaware of what a “good” credit score even was. She assured me that it was a simple process and necessary before commencing the process of searching for a home.

            As I entered Melissa’s office, nestled in the Keller Williams Loudoun Gateway suite, I was comforted by her Production Manager, Julie Gloster, who stated that any information that was discussed would remain private, the same as doctor/patient confidentiality. Julie also shared that she was required to be licensed to discuss rates, reassuring me that I was in knowledgeable company. I answered several questions regarding my work history, residences (within the past two years), and contact information and Mellissa shared that a good credit score was around 720 (a good score, that, on average, is accompanied by favorable rates) while anything over 740 is considered an excellent score (the best rates could be available to those who posses this credit score, however, other factors do apply). My score was revealed to me after about ten minutes of questions and conversation.

Obtaining my credit score was informative, simple, and a necessary starting point in my home buying process.  McLean Mortgage can now determine how much of a loan I qualify for, which I will also discuss so check back into the Ask Gina & Company blog to find out how my Sterling home search is progressing and, as always, please call the AGC team at (703)574-3478 with your Northern Virginia real estate questions.