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Rent Or Buy – Which Is Better? Germantown Maryland Real Estate

Author: Fernando Herboso / Category: German Town Maryland Homes

Rent Or Buy – Which Is Better?  

Maryland Real Estate 


This is  a question that I get asked many times in some form or another.Usually, it comes from young couples that are just starting out are wondering?

Rent or Buy? Which is better?

The problem with this question is that there is no standard answer that fits everyone..

It depends on many personal factors  that when put together, it will paint a clear picture whether you should buy or rent…

Some of this personal factors include, 

What is your monthly income?

What about your existing debts?

How long do you plan to live there?

How much money do you have saved up for the down payment?

What is your credit score?

What is the current real estate market in your area?

What is the current rental market in your area?

Taxes?, marital status?, economic growth of your area?

and on and on..

 If you’re serious on your decision to buy a home, you should consult with a professional that have a vested interest in helping you succeed.

Millennial is a new term for new age buyers coming into the real estate market

They have seen with their own eyes the real estate bubble that exploded on their parents homes in the 2005 -2007 real estate crash

Precisely why they are now questioning more than ever…

But my advice will always be…

Should you make a decision to buy or not based on what your parents experienced in the past?


Base it on what your needs are on your  personal future?                                                 

When does buying a home makes sense?

When it fits your plans!

More First Time Home Buyers Tips

Rent Or Buy – Which Is Better?  Maryland Real Estate 

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What Credit Score is Needed to Buy a Home in Germantown Maryland ?

Author: Fernando Herboso / Category: Germantown Maryland Homes, Milestone, Restaurants

What Credit Score is Needed to Buy a Home in Maryland ?

First of all,  you might be wondering which credit score mortgage lenders use?

  • Equifax?
  • Transunion?
  • Experian?

I get this question a lot and I’m not sure why?

There’s no sense focusing on something that only lenders have control of it, the fact remain that you need to be credit worthy  to be a borrower.

All lender determine your creditworthiness by pulling your credit score.

But if you must know, the answer is your FICO score and that is an standard being used with most lenders in general. 

Your FICO score is a combination of the 3 listed above…which are the three main credit bureaus. 

If you are looking for the perfect “LOWEST CREDIT SCORE” you must have and get the best pricing from a lender…you will need at least 760 points.

If you have any mistakes or missteps inside your credit report, you must deal with them before buying a home if you want the best rates possible…and  in some cases, this could take several months.

Maybe you will find that  your credit score is not sufficient for you to get a loan. Your income and the ratios play an important role in determining how much credit you can get.

This is a very personal conclusion based on your own  credit score, your income ratios, your debt amounts…and a few other important relevant facts. I caution for you NOT TO DISQUALIFY yourself…but have a professional evaluate your whole application for the best advice possible.

In summary, the only thing you have control over your credit score is to keep up diligently with your bills, don’t wait until the last minute to pay them, don’t  over burden yourself with so much credit and be responsible and strive fro perfection when it comes to paying your bills…

If you have low credit scores, do not get discouraged, there are ways to raise your credit up with the right help…call us if you need assistance on this 301-246-0001.


What it takes to get a loan plus information about grants when you are a first time home buyer?  

What Credit Score is Needed to Buy a Home in Maryland ?

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