1. Loan Search – Buyers should seek the advice of an experienced mortgage professional, someone who will help determine which financing options best suit their needs today and in the future.
2. Loan Application – It’s crucial that consumers supply the lender with...
Typically, a person with a low credit score is in this position because they lack structure in his or her life. There are, of course, cases where unplanned health or employment complications are to blame, but for the most part, these are individuals who lack the discipline to pay their bills on time or curb...
There are five factors that comprise the credit score. They are listed below in order of importance, just as an underwriter would look at the score:
• Payment History: 35% impact. Paying debt on time and in full has a positive impact. Late payments, judgments and charge-offs have a negative impact....
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Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” More than 200 years later, this certainly holds true. And while being a homeowner won’t add years to your life, the modern tax code has a number of benefits...
In the 1960s, Fair Isaac Corporation started working on a system lenders could use to evaluate the likelihood of receiving repayment on loans. Prior to that, it was really a matter of trusting an individual to be a “man of his word,” so to speak. Fair Isaac sought to take human error out of the...
