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How Do Credit Look-ups Affect Your FICO Score?

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Your FICO score determines your eligibility for a loan. Certain things like late payments or overextending your credit obviously hurt your score. What about credit look-ups? Do they hurt your score? You might be surprised to learn the truth – it’s probably not as bad as you think. Defining a Credit … Continue about How Do Credit Look-ups Affect Your FICO Score?

Buying a Home

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How Do Credit Look-ups Affect Your FICO Score?

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Your FICO score determines your eligibility for a loan. Certain things like late payments or overextending your credit obviously hurt your score. What about credit look-ups? Do they hurt your score? You might be surprised to learn the truth – it’s probably not as bad as you think. Defining a Credit Look-Up First, let’s look […]

How to Budget for a New Home Purchase

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Buying a home is exciting. It’s also overwhelming. Budgeting for the purchase means not only the sales price, but well beyond that. If you focus only on your down payment, you may end up underwater right away. Here we discuss the common and most overlooked expenses your budget must include. This way you can properly […]

Can You Buy a House Without a Social Security Number

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Are you looking to buy a home in the United States, but you don’t have a social security number? It may be easier than you think to settle here in the U.S. Rather than a social security number, you will need an ITIN, Individual Taxpayer Identification Number. If you have an ITIN and you have […]

Is it Possible to get a Mortgage on Bank Statements Alone?

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Do you have irregular income or maybe you don’t work at all, but you know that you could afford a mortgage? You probably won’t be able to qualify for a traditional mortgage if you don’t have W-2s or tax returns for a lender to confirm your income, but you may be able to get away […]

What is the Freddie Mac First Look program?

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When Freddie Mac takes possession of a home that foreclosed, they put it in their HomeSteps program. This sales unit, operated by Freddie Mac, markets and sells the home for Freddie Mac. Before the home is available to the general public, though, Freddie Mac offers the First Look Initiative. This program allows owner-occupied borrowers to […]

How Credit Disputes Affect Mortgage Process

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It’s your right to dispute something that isn’t accurate on your credit report, but what happens when you apply for a mortgage. Will you be able to get the mortgage? Compare Offers from Several Mortgage Lenders. Unfortunately, credit disputes are red flags to lenders. A disputed account could mean that you’ll have more liabilities than […]

What’s the Lowest Credit Score Allowed on an FHA Loan?

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The FHA loan makes it easy for borrowers to secure funding even if they don’t have perfect credit. Unlike the conventional loan program, which requires at least a credit score of 680, you can get an FHA loan with a much lower credit score. Just how low can your credit score get for you to […]

The Top Reasons You Should Buy Less Home Than you Qualify For

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You got your loan preapproval and you can’t believe how much you can borrow! You are already dreaming of the perfect house that you are going to buy – you have it all pictured now. Before you do, you may want to consider buying less home than you can afford. We know that sounds like […]

When Will Your New Mortgage Show on Your Credit Report?

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If you have a new mortgage, you are probably anxious for it to show up on your credit report. Housing debt can have a positive impact on your credit score, especially as you start making payments on time. Many lenders look at your housing debt as an indication of your level of financial responsibility. Get […]