How much debt you have, when you pay your bills, and how long you’ve had your accounts open — these factors can all impact your credit score, sending it up or down at a moment’s notice. But something else that can affect your score? That’d be the way that score is calculated. And pretty [...]
Your credit plays an important part in the mortgage process — and it’s a major factor in what interest rate you receive on your loan. Are you worried your score isn’t good enough? Don’t fret. Here are five lesser-known moves you can make that might help improve your credit: Request a credit line increase. [...]
Thinking of closing one of your credit cards? Read this whole blog before making that decision. Your credit score is one of the most critical components of your total financial picture. A good credit score can usually get you better interest rates and terms, and lower fees on credit cards, auto loans, and your [...]
Your credit score plays a huge role in your ability to get to mortgage — not to mention how easy the process is and what interest rates you'll qualify for. Are you worried your credit isn't good enough? You're not alone. Many would-be homeowners fear their credit scores will mean sky-high rates and massive down [...]
From a young age, many of us are taught not to take on any debt — that it's best to pay in cash and only spend what you already have. A big issue with the cash-only mindset, though, is that it doesn't help you build your credit. When you reach the point in life where [...]
The better your credit the lower interest rate you're likely to get. Why? In a word—risk. The higher your score the less risk you represent, the more willing a lender is to finance your mortgage. It is that simple. But getting and maintaining a good credit score isn't always so easy. If you're afraid your [...]
What is my FICO score and why is it important? For many people, the first time they will have to deal with their FICO score is when they are applying for a home loan. Most lenders who participate in the FNMA (Fannie Mae) loan program will require a FICO score of at least 620. While [...]
If you’re afraid your score will land you a loan with a higher interest rate, here are things you can do improve your score.