One of the first items addressed during the home buying process is your credit. Your credit score is an essential number that can impact whether you’ll be able to qualify for a mortgage. If your credit score falls below, 620, you’ll want to utilize some tools and programs to raise your score. As your credit score rises, different programs will allow improved and lowered interest rates for you.
Tag Archives | Credit
There was a lot of great information for first-time home buyers in our recent First-Time Home Buyer Q&A Google Hangout. One of my favorite discussions was about buying a home with bad or bruised credit. It’s a situation that’s all too familiar for many first-time home buyers for a variety of reasons.
It doesn’t matter if you’re massively in debt or you’ve plateaued and don’t know how to increase your credit score anymore; here are a few simple and effective ways to improve your credit score in 2014.
By comparison, making a purchase on your debit card seems like a boring, ineffective way to spend your money. But debit cards still have their place in the modern consumer’s wallet – and they can sometimes be a better alternative to paying with a credit card. Here’s a little refresher on the basic ways credit cards differ from debit cards.
ou hear a lot about the importance of your credit score, and that is one of the primary things lenders look at to determine if you qualify. One of things that can have a serious impact on your credit score is becoming a victim of identity theft. Realizing this negative impact, in 2003 a new law to combat identity theft was enacted: The Fair and Accurate Credit Transactions Act of 2003, more commonly known as FACTA.
Automatic bill pay is convenient, but it’s not for everyone. Here are some of the pros and cons of using automatic bill pay.
2013 is going to be another great year to be a homeowner. Here are 13 reasons why you should buy a home in 2013.
Ah…credit cards. The avenue to reckless spending, high interest charges, and ruined credit. I’m not suggesting you keep your credit cards in the freezer to avoid spending money, but here are five common credit card mistakes you should avoid at all costs.
Bankruptcy is a bummer. No one has ever said “OH MAN! I’m so excited to file bankruptcy! It’s going to make everything so awesome!” That being said, sometimes it needs to be done. If you have explored all of the alternatives and have decided to file bankruptcy, it’s important that you know what your options are and how they will impact your existing mortgage, or your future ability to obtain home loan financing.
MSN Money has created a list of 5 ways young adults ruin their credit as a reference for readers to learn from and avoid making the same financial mistakes. Check it Out!