Your credit score can make or break your ability to get a loan. So what do lenders consider a ‘good credit score?’ It can vary by lender, but on average, most lenders consider scores over 700 good. Of course, the higher your credit score the better off you’ll be. While rare, some people do have Read more
Go Mortgage Rate Shopping Without Affecting Your Credit Score
If there’s one thing every borrower must do when looking for a mortgage, it’s go rate shopping. You shouldn’t assume the offer you received from one lender is the only offer you’ll get. It may not be the best offer either. Wouldn’t you rather shop around to see what others lenders might offer Read more
The Top Credit Report Errors and How to Fix Them
Your credit report affects you in many areas of your life – not just when you want to apply for a new loan. It could affect your chances to get a job or even secure new services. Because of this, you need to keep a close eye on your credit report and take care of any credit report errors you Read more
Fannie, Freddie to Update Credit Score Reqs, Seek Stakeholders Input
The Federal Housing Finance Agency is seeking the opinion of mortgage lenders, professionals, and relevant housing stakeholders regarding Fannie Mae and Freddie Mac’s update on their credit score requirements.This update entails a shift in the use of Classic FICO scores to another scoring Read more
Five Common Refinancing Blunders and How to Avoid Them
When you think of refinancing, you automatically think of saving. It allows you to lower your current interest rate and reduce the loan term. Some refinancing options even allow some cash-out. The goal is to save more money.While this is true, it is not always that when you refinance you Read more
