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
Off the Record: Consumers Will See Less of Derogatory Marks on Credit Reports
Credit Scores Could Receive a Boost as a ResultEquifax, Experian, and TransUnion will not include derogatory marks, civil judgments and tax liens on credit reports if they don’t meet new reporting standards. While the credit bureaus deemed the move to result in modest impacts to credit scores, Read more
Whose FICO Score do Lenders Use on a Joint Refinance?
When you marry your spouse, you marry his credit. Good or bad, you pay the price. Even if you have picture perfect credit, your spouse’s credit can make a joint refinance a nightmare. It is not uncommon to see one partner with a high credit score and another with a low credit score. It is also not Read more
Does a Mortgage Denial Hurt Your Credit?
You applied for a mortgage and did not get the approval you thought you would get. What happens to your credit? Will other lenders know you weren’t approved? The good news is no one will know what happened. They will know that you applied for a mortgage, but that is the extent of it. There is no Read more
How to Ace Your Home Purchase or Refinance Application
How to Ace Your Home Purchase or Refinance ApplicationIn matters of homeownership, it should cost you less to know more about how mortgages - purchase or refinance - work. This makes for a better transition from homebuying to homeownership. Don’t focus on the rates just yet, but on certain areas Read more
