BURNS & EGAN REALTY GROUP, LLC HOMES FOR SALE BILLERICA, MA REAL ESTATE BILLERICA


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Your FICO score is a key factor used to determine if you qualify for a mortgage. The Fair Isaac Corporation (FICO) is the creator of the most common credit score used by home loan providers. The algorithm used to create your score is a closely-guarded industry secret. But in general, it factors in your payment history, debt burden, length of credit history, and recent applications for credit. Your FICO score is powerful but there are things it cannot account for.

It does not indicate how much you can afford.

It does not reveal how much you have saved up for a down payment.

It does not understand your ability to budget.

It does not display your current bank account balances.

What does it do?

Your FICO score tells you (and your potential lender) how you have handled credit over the length of your credit history. Scores range from 300 (poor) to 850 (excellent). The primary factors that can hurt your credit score are late-payments and the debt-to-credit ratio.

Late Payments

Make your payments on-time every month especially if you are hoping to secure a mortgage. The more on-time payments you have the better your score will be. In some cases, on-time payments can dilute the impact of late-payments in your credit history. Newer incidences can be more detrimental to your score than older late-payments. Payments that are received 60, 90, or 120 days late count more against you than those that are late by over 30 days.

Credit Utilization

The total amount you owe is a consideration but the relationship between how much you owe and the credit available to you weighs more heavily when it comes to determining your FICO score. Another term for this is your credit utilization. Your debt-to-credit ratio is a measure of how much of your available credit you are using within a 30-day window. The higher the ratio of debt compared to available credit, the more likely you are to have a lower FICO score.

For instance, let’s say you and your partner both owe $1000 on credit cards. Your available credit is $1500, making your credit utilization two-thirds or 66 percent of your available credit. Your partner’s available credit is $4000, making their credit utilization 25 percent of their available credit. If all other factors are equal, your partner’s FICO score will appear higher. 

Ask your real estate professional for recommended financial resources in your area.



8 Horton Lane, Billerica, MA 01821

Single-Family

$664,900
Price

8
Rooms
4
Beds
2/1
Full/Half Baths
Beautiful New Construction Colonial Home Sitting on A Level Corner Lot Located In A Nice Established Billerica Neighborhood Close To The Burlington Line. Proven Local Builders w/ Over 25 Years Experience Building Homes Built w/ Integrity. Well-Crafted 4-Bedroom Colonial w/ Fam. Rm. Addition w/ Vaulted Ceiling & Slider Leading To Deck. Beautiful Open-Concept Kitchen w/ Custom Cabinets (Many Colors to Choose), Granite Island & Counter Tops, Stainless Appliances. HW Floors Thru-out 1st Level & Staircase. Tile & Granite in All Baths & 1st Floor Laundry Room. Generous Master Bedroom Suite w/ Master Bath & Large Walk-in Closet. Walk-up Attic & Large Walkout Basement Allows Ample Opportunity For Storage & Future Expansion. Great Location To Rts. 95/93...Still Time To Choose Interior Selections & Make This Home Yours!!!
Open House
Saturday
January 18 at 12:00 PM to 2:00 PM
Cannot make the Open Houses?
Location: 8 Horton Lane, Billerica, MA 01821    Get Directions

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218 Forge Village Road, Groton, MA 01450

Condo

$529,900
Price

6
Rooms
3
Beds
2/1
Full/Half Baths
Finished new construction by premiere local builder. This oversized corner lot is located on the desirable Gilson rd. Come check out this masterfully designed townhouse complete with HUGE back yard. This 3 bedroom 2.5 bath has a 'bonus room' with closet on the main floor . The master bedroom upstairs w cathedral ceilings has its own walk in closet w/ on-suite bathroom. There is extra space for storage in the walk up attic & unfinished basement The stairwell and main floor have hardwood throughout. Masterfully designed with an open space concept main floor overlooking the fireplace. Enjoy your evenings on the covered farmers porch, and your afternoons on the patio in the back yard. Quick close available. Easy to Show & Go. Just minutes to the 119 exit on 495. The perfect location for shopping, commuters, and going to the local farms. Completed new construction. This home is finished and available for quick closing.
Open House
Saturday
January 18 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 218 Forge Village Road, Groton, MA 01450    Get Directions

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218 Forge Village Road, Groton, MA 01450

Single-Family

$529,900
Price

6
Rooms
3
Beds
2/1
Full/Half Baths
Finished new construction by premiere local builder. This oversized corner lot is located on the desirable Gilson rd. Come check out this masterfully designed townhouse complete with HUGE back yard. This 3 bedroom 2.5 bath has a 'bonus room' with closet on the main floor . The master bedroom upstairs w cathedral ceilings has its own walk in closet w/ on-suite bathroom. There is extra space for storage in the walk up attic & unfinished basement The stairwell and main floor have hardwood throughout. Masterfully designed with an open space concept main floor overlooking the fireplace. Enjoy your evenings on the covered farmers porch, and your afternoons on the patio in the back yard. Quick close available. Easy to Show & Go. Just minutes to the 119 exit on 495. The perfect location for shopping, commuters, and going to the local farms. Completed new construction. This home is finished and available for quick closing.
Open House
Saturday
January 18 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 218 Forge Village Road, Groton, MA 01450    Get Directions

Similar Properties




218 Forge Village Road, Groton, MA 01450

Single-Family

$529,900
Price

6
Rooms
3
Beds
2/1
Full/Half Baths
Finished new construction by premiere local builder. This oversized corner lot is located on the desirable Gilson rd. Come check out this masterfully designed townhouse complete with HUGE back yard. This 3 bedroom 2.5 bath has a 'bonus room' with closet on the main floor . The master bedroom upstairs w cathedral ceilings has its own walk in closet w/ on-suite bathroom. There is extra space for storage in the walk up attic & unfinished basement The stairwell and main floor have hardwood throughout. Masterfully designed with an open space concept main floor overlooking the fireplace. Enjoy your evenings on the covered farmers porch, and your afternoons on the patio in the back yard. Quick close available. Easy to Show & Go. Just minutes to the 119 exit on 495. The perfect location for shopping, commuters, and going to the local farms. Completed new construction. This home is finished and available for quick closing.
Open House
Saturday
January 18 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 218 Forge Village Road, Groton, MA 01450    Get Directions

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