This is the page that Elizabeth will devote strictly to women. Elizabeth wants to help more women understand the process of buying homes
Elizabeth teams up with other real estate professionals and related areas (mortgage, escrow, inspectors and title representatives) to give seminars on the homebuying process for women (men are welcome, too). It is our goal to break down myths and give better understanding to the homebuying process.
"The Savvy Woman's Guide to Homeownership"
Please feel free to call for any information you might need immediately regarding home purchases or mortgage advice.
A great article on women buying homes:
http://www.seattlewomanmagazine.com/april05-3.htm "A Home of One's Own: Single Women Heat up the Real Estate Market" by Karen West (Seattle Woman Magazine) Great websites for women starting businesses:
Women of Wall Street: Ask Jane Doe
Learn to Golf!
Golf is fast becoming a woman's way to do business. In the past, women would "do tea" or "lunch" to conduct business. They are finding that golf can enhance their business game--something men have known for years. Take some lessons.
Women's Golf Associations;
Executive Women's Golf Association/Seattle Chapter: (206) 781-5813
Northwest Ladies' Golf Association
Greater Seattle Women's Public Golf Association:
(206) 760-1904
Washington State Women's Public Links Golf Assocation: (206) 524-5962
For more information about CXO Golf Academy of Bellevue, visit http://cxogolf.com
Dear Jane:
I'm a single woman in the market to buy my first house. Before I apply for a mortgage, I'm trying to tidy up my credit so I'm transferring my credit card debt (about $5,000) from three cards to one and closing the other two. My friend Meredith told me this was a bad move -- that my FICO score will be higher if I keep balances on the three credit cards. Can you please explain what on earth a FICO score is and if it's true that three cards are better for my credit than one?
-- Confused by Credit Scores
Dear Confused by Credit Scores:
A California company called Fair Isaac and Co. creates your credit score, hence the term "FICO." Almost all major mortgage lenders use this score to evaluate how good your credit is. Your application for a mortgage will be accepted or rejected based on your FICO score. If a lender accepts your application, your FICO score will also determine what your interest rate will be and what fees you'll pay. How your score is determined can literally be broken down into percentages. You can read the specifics at this U.S. Department of Commerce website , and here's a summary of how your FICO score is determined:
Weights and Factors used for the FICO Score
- 35% = Your Payment History: How you've been making payments on all your credit cards and loans. Recent missed payments will have more of a negative effect on this score than ones from way back when.
- 30% = Outstanding Credit: How much credit is available to you and how much you owe -- in total. If you have a credit card with a zero balance, be sure to factor this available credit into the equation. The more available credit you have, the better it is for this part of your score.
- 15% = Length of Time: How long you have been a credit user. The longer you've been borrowing money, the better -- provided you've been paying it back.
- 10% = New Credit Loads: How recently have you needed more credit? More recent needs for credit lower this score.
- 10% = Mixed Credit Use: What percentage of your debt is credit card debt and what percentage is installment-based loans? Banks like to see diversity in the type of credit extended to you.
Your friend Meredith is correct -- leaving all three credit lines open will be better for your FICO score than having only one credit line open. Whether or not you transfer the outstanding balances to one card is up to you -- that won't affect your score -- but closing two of the cards will. The reasoning behind this is what Fair Isaac calls your "balance and burden" -- how much credit has been made available to you and how much you're currently using.
http://www.sba.gov/starting_business/planning/writingplan.html
http://www.successfulminds.com
http://www.sba.gov/financing/special/women
Women's Business Center: http://www.seattleccd.com/wbc/
Create a solid business plan: http://www.howstuffworks.com
(in the search box, put "business plans." This is a simple and handy resource. (Tamra Fleming, Architect Your Life, LLC, tamra@architectyourlife.com)
For inspiration and help launching your idea, a group with CRAVE, Ladies Who Launch Incubators: http://www.ladieswholaunch.com
CRAVE Seattle! Find out what CRAVE has to offer at www.craveparty.com Join the best networking for women that Seattle has to offer! Launch your idea/project with www.ladieswholaunch.com the incubators that produce results and great new friends!
Thank you for your interest!
