Tag Archives: FICO and Mortgage

How FICO Score affects Mortgage Rate

How FICO Score Affects Mortgage Rate A lot of factors go into whether or not you get a mortgage at all.  If you do get a mortgage your lender’s assessment of your loan application needs to show that you have passed certain standards. How FICO score affects mortgage rate is shown below. The weight given

Credit Bureau Consumer Explanations Never Worth It

  Credit Bureau Consumer Explanations Never Worth It Your right to furnish a credit bureau with a 100 word explanation of an account in dispute may seem tempting.  When you take a closer look at the pros and cons of doing this you will conclude that it is just not worth it.  Lenders never really

Prepare First for that Rock Bottom Mortgage Rate

Prepare First for that Rock Bottom Mortgage Rate When you’re ready to take advantage of today’s rock bottom mortgage rates keep these pointers in mind: Failing to Prepare is Preparing to Fail Have proof of at least 2 years income in the form of pay stubs and W2s.  Have more than 2 years worth of

Credit myth: Debt to income ratio affects credit score

Debt to Income Ratio does not Affect your Credit Score One of the things that fascinates me about the credit scoring system is how much of it flies in the face of common sense.  Shouldn’t how much debt you have as compared to your income be the most important factor in your dependability to repay

What does your lender make of your FICO score?

  What does Your Lender Make of Your FICO Score? Lenders tend to break down the credit score range for services into “buckets” or brackets.  These brackets may vary from a few points to a spread of 10 points.  This means that even a difference of 1 point can change your credit score range jumping