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is (credit limit) and the flow of water is steadier and more or painting are needed. Or new or more furniture is necessary
dependable. And use the card every month, because for every or appliances that the home or apartment may not come with.
month there is not activity, water flow slows down and credit Also, having funds available after a purchase closing can help
score stagnates, or worse, the score drops. mitigate what is called “payment shock.”
And for gosh sakes never, ever let the balance go over your This is the shock new homeowners suffer when going from a
credit limit. I have seen potential borrowers with a shallow certain payment for rent to a higher payment for a mortgage.
credit history (very few accounts) lose 50 points in credit score
because they went over the limit on a secured credit card. Th is
will force you to start pumping all over again because you have Commercial
lost your prime and the water level in the pump has dropped.
Just like your credit score. or Residential
Once you have a card for a few months sign up for a credit Call me for all
monitoring service like Credit Karma or most credit card your Real Estate
companies offer that to their card holders. Keeping an eye on needs.
your credit on a regular basis will show the impact of certain
things on your score, so you can see what makes the score go 410-924-4807
up and also down.
Starting the home search journey will require cash for a security
deposit and first month’s rent if renting and cash for closing
costs/down payment if purchasing. Although, it is possible
BENSON & MANGOLD
to buy a house with no money through the Rural Housing 110 Market Street
Program, so a large amount of cash may not be necessary,
Mike Shipley Denton, MD 21629
In either case, the more cash you have at time of signing a mshipley55@comcast.net 410-479-0777
lease or a contract the more resources you will have if repairs
It’s a Good Thing We Have Eight Branches
ĠÏċÍ ŀł 4íĐā oKąʼnʼnʼnæ Tı³ā c³āąíæß Díæąʼn
Housebreaking accident.
Living room needs a new rug.
Teething.
Have to buy new shoes.
Sharp puppy nails.
Need to buy a new couch.
Easton - 274 N. Washington Street - (410) 819-8686
Ridgely - 204A East 6th Street - (410) 634-2071
Centreville - 115 Coursevall Drive - (410) 758-8747
Queenstown - 7101 Main Street - (410) 827-8881
Grasonville - 3701 Main Street - (410) 827-6101
Just the bank you need. TM Chester - 1423 Main Street - (410) 643-2258
Stevensville - 101 Main Street - (410) 604-0881
www.QueenstownBank.com Church Hill - 1005 Sudlersville Road - (410) 556-6417
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