|
| |
credit: FHA loan or Conventional loan. Which purchase loan is best for my Real Estate purchase? - 06/20/11 01:31 PM
Here are some real simple basic FHA pros/cons to simply go over and compare an FHA loan to a Conventional loan...
FHA Pro: An FHA loan is designed for lower credit borrowers (640-700 range). The loan guarantee allows the government to make a guarantee to the lender against a loan default because the borrower is a more risky borrower. This allows the lower credit score borrower (640-700 range) to obtain a good interest rate loan through the lender. This does not guarantee loan approval, just against default. All loans, whether FHA or conventional must go through a similar approval process. Rates on … (0 comments)
|
credit: What affects your credit score? Here is the breakdown..... - 10/01/07 09:19 PM
WHAT AFFECTS YOUR CREDIT SCORE? Credit scores are an important factor in mortgage loans but many consumers are unsure about what causes them to receive that score. The typical score model for mortgages are FICO Scores. They are determined by five main categories:
35% is based on your payment history. (Including all accounts)
30% is based on the amount you owe creditors. (Especially revolving accounts with high balances)
15% is based on how long you have been using credit. (The longer you have a good payment history, the better)
10% is based on your applications for new credit. (If you are loading up on credit it … (3 comments)
|
credit: Fast track credit piggybacking gone soon! Buyers will work harder to achieve good credit. - 09/21/07 12:11 AM
The days may be numbered for dozens of Internet-based companies that promise to quickly boost FICO credit scores by 200 to 300 points.
What is credit piggybacking???
Using a FICO-boost service, a mortgage applicant with a history of late and missed payments and a low FICO score in the 500s, for example, could puff up his or her score well above 700 and be eligible for the best interest rates and fees.
Though the add-on users receive no actual access to the credit card and cannot rack up charges, Fair Isaac's current FICO model allows the cardholders' excellent payment histories to flow directly into … (6 comments)
|
credit: Back to basics! Finding the correct home mortgage for your home purchase. - 09/21/07 12:06 AM
Choosing a mortgage loan is not as easy as simply finding the lowest interest rate. There are many other factors that will determine which mortgage is right for you. Your financial picture, including your income, savings, cash reserves, and debt-to-cash ratio will determine how much you can afford to pay in monthly mortgage payments. Finding the "best" mortgage means balancing your mortgage options with your financial situation and your housing needs, now and in the future.
Since even the shortest mortgages typically last at least 15 years, you will need to project how your financial situation and your housing needs may … (0 comments)
|
|
|
|
|
|
Jason Schweiger
Auburn,
WA
More about me…
Network Funding LP
Address: Auburn, WA, 98001
Office Phone: (253) 315-5580
Cell Phone: (253) 315-5580
Email Me
Puget Sound Mortgage Broker working hard for my clients in the entire Puget Sound region including Issaquah, Bellevue, Seattle, Redmond, Kent, Auburn, Maple Valley, Covington, Renton and more.
 Listings
Links
Archives
|
|
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2012 ActiveRain Corp. All Rights Reserved
;)
;)
;)