As a borrower, your credit score can make a huge difference when it comes to applying for larger loans, such as a home mortgage. Even the slightest increase in your score can save you thousands of dollars. While most people wait for regular credit score updates, the fact is you can update your credit score …
Whether you’re looking to make minor updates to your kitchen or need a complete bathroom remodeling, home renovation projects can be expensive. Unfortunately, many home improvement loans are reserved for borrowers with exceptional credit. If your credit leaves a lot to be desired, you may think your home renovation dreams are out of reach. Fortunately, …
If you are currently going through a divorce, you are not alone. Statistics show almost 50 percent of all marriages in the United States will end in divorce or separation. While this major life change can take an emotional toll, it can also greatly affect your financial stability and credit score. How does divorce hurt …
How does a hard credit inquiry affect my score? If you’re looking to buy a home, you may be wondering about the mortgage application and how that impacts your credit score. (HINT: There is great news within) When applying for a home loan, this requires a hard pull on your credit, also known as a …
Mortgage Applications & Credit Inquiries: What You Need to Know Read More »
Is there even a difference between your credit score and your FICO score? Actually, yes! Check out this article to learn more. Your credit score tells lenders how likely you are to pay your bills on time. The better your credit score, the less risky you look as a borrower. But a “credit score” is …
You probably know that a higher credit score helps you get a better interest rate. But there’s more to it than that. Your credit score directly affects the interest rate on your mortgage. The difference between a “good” versus an “excellent” credit score can save you thousands of dollars on interest. Most people know that …
How Your Credit Score Affects the Cost of Your Mortgage Read More »
While some people do just fine with DIY budgeting, others need a little help managing their finances and maintaining healthy credit. What is a credit counselor? A certified credit counselor is someone who looks at your entire financial situation and helps create a personalized plan for getting back on track. If you work with …
When it comes to credit scores, there’s a lot of conflicting information out there. Check out these little-known facts to keep you informed. 1. There are several types of credit scores The phrase “credit score” is an overarching term used to describe how likely you are to pay your bills on time. There are …
If you don’t have a lot of credit history, it may seem a little intimidating to get started. But starting from scratch isn’t as difficult as you might think. Understand factors that could hurt your score Prevention is key. Once a late payment is sent to collections, this will harm your credit, and paying …
Starting From Scratch? Here’s How to Build Your Credit Read More »
How is your credit score calculated? Read below for the full breakdown. Credit can get pretty complicated because there are several different models and versions of your credit score. To keep things simple, we’ve broken down the main factors that impact your FICO score, which is the most widely used credit scoring model. Your FICO …
Sadly, there are thieves and scammers out there who may try to steal from your credit card. Here’s what you can do to stop them. Keep your card numbers safe Do your best to keep your cards covered and not allow anyone to sneak a peek at your card information. When making a transaction, …
Great job building up your credit score! After all that hard work, you’re probably wondering how you can maintain your credit. Read below to learn more! 1. Pay your bills on time When it comes to late or missed payments, prevention is key to protecting your score. Paying bills on time won’t always boost …
A credit repair service can be the perfect solution for people who need help improving their credit. Unfortunately, there are a lot of scams out there. Here’s how to avoid them. Credit repair scams: Red flags to watch out for These are some telltale signs of a credit repair scam: Asking for payment upfront …
Mortgage lenders check your credit at the beginning of the approval process, and they also pull your credit again right before closing. If the second credit check comes back the same as the first, the closing should stay on schedule. However, if the second credit check comes back lower than the first, or raises some …
What Happens if My Credit Changes Before Closing? Read More »
Having a low credit score can feel like a major burden. But a “bad” credit score is not a life sentence. Here are some steps you can take to improve your credit. Check your credit history for errors First, you should check your credit history for any errors that you can dispute. Checking your …
VA loans (backed by the Department of Veterans Affairs) are a type of loan offered to current and past service members. The VA itself does not loan the money but instead ensures a portion of it while VA-approved traditional lenders finance the loan. VA loans provide specialized programs and assistance for veterans and often have …
Can You Get a VA Home Loan With a 500 Credit Score? Read More »
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