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Real Estate - Home » FAQs » Credit Score

Credit Score

January 24, 2023 By Libby Guthrie Leave a Comment

A

Credit Score

Posted by Libby Guthrie
Credit Score
Credit Score

What is a credit score?

A number ranging from 300-850 that’s based on an analysis of your credit history.

Your credit score helps lenders determine the likelihood you’ll repay future debts.

You’ll need a score of 620 or better, but you’ll get better financing rates with a score of 720 or higher.

There is much more to know about credit and credit scores, so feel free to ask if you have specific questions.

To learn more about credit scores and credit reports, click here.

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Tags: Homebuyer Terms, Mortgage Terms, Real Estate Terms

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guthriegrouphomes

Libby Guthrie, Realtor
@ Keller Williams 865-966-5005
🏡 Helping You Make the Move to Knoxville
📱 Cell: 865-364-0200
🏡 Good People, Great Homes!

𝗧𝗵𝗲 𝗛𝗼𝗺𝗲 𝗜𝗻𝘀𝗽𝗲𝗰𝘁𝗶𝗼𝗻 𝗕𝘂𝗱𝗴𝗲𝘁 𝗥𝗼𝗮𝗱𝗺𝗮𝗽 🗺⁣ ⁣ A home ins 𝗧𝗵𝗲 𝗛𝗼𝗺𝗲 𝗜𝗻𝘀𝗽𝗲𝗰𝘁𝗶𝗼𝗻 𝗕𝘂𝗱𝗴𝗲𝘁 𝗥𝗼𝗮𝗱𝗺𝗮𝗽 🗺⁣
⁣
A home inspection isn't just a negotiation tool—it's your budget roadmap for the next few years. 🔍⁣
⁣
That report highlighting a 15-year-old water heater or aging roof isn't just leverage for credits at closing. It's a clear signal that you need to budget $8,000-12,000 for likely replacements within your first few years of ownership. That's not a deal-breaker—it's a budget roadmap.⁣
⁣
Major system failures happen at the worst times: an HVAC failure during a heat wave, a burst pipe in winter, or storm damage to the roof. These scenarios happen when it's least convenient and most expensive. HVAC replacement alone runs $5,000-$10,000, and without liquid reserves, a single emergency can derail your finances entirely.⁣
⁣
This is where smart buyers differentiate themselves. They don't treat the inspection as pass/fail. They use it to understand the timeline of major expenses and plan strategically instead of scrambling when systems fail.⁣
⁣
💡 The takeaway: Create a dedicated repair fund before closing. Keep liquid cash reserves after purchase rather than putting every dollar into the down payment. Those who budget with this roadmap in mind avoid buyer's remorse and build equity with confidence.⁣
⁣
Link in bio⁣
⁣
Libby Guthrie, REALTOR® 🏡⁣
Cell: 865-364-0200⁣
Keller Williams 865-966-5005⁣
GGHKnoxville.com⁣
Libby@GuthrieGroupHomes.com⁣
⁣
⁣
#RealEstate #HomeInspection #HomeBuying #FirstTimeHomeBuyer #RealEstateTips #BuyerTips #Homeownership #SmartBuying #knoxvilletn
Thinking about selling this year? You're not alone Thinking about selling this year? You're not alone. The 2026 real estate market is presenting some great opportunities for homeowners who are ready to make a move.
Here are 3 clear signs it might be time to sell:
1. You've Outgrown Your Space
Whether you need an extra bedroom, a home office, or just more room to breathe, feeling cramped in your current home is a valid reason to explore what's next.
1. You've Built Significant Equity
If you've owned your home for several years, there's a good chance you've built up substantial equity. This can give you serious buying power for your next chapter.
1. Your Lifestyle Has Changed
Retirement, job relocation, or an empty nest can all signal that your current home no longer fits your needs. When your lifestyle shifts, sometimes your home should too.
The key is recognizing when your home is no longer serving you the way it once did. If any of these resonate with where you are right now, it may be worth having a conversation about your options.
Let us know in the comments if any of these resonate with you!
#realestate #homeselling #sellyourhome #realestatetips #homeequity #realestateagent #realtor #homesellers #realestate2026 #lifestylechange #emptynesters #relocation #homeseller #realestateadvice
Libby Guthrie, REALTOR® 🏡
Cell: 865-364-0200
Keller Williams 865-966-5005
GGHKnoxville.com
Libby@GuthrieGroupHomes.com
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Location
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Brentwood, CA 94513

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Office: (925) 628-2436

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