credit scores: Keep Your Credit Scores High to Buy Homes in Denver
- 12/08/11 03:35 PM
If you’re planning any sort of large financial transaction—such as refinancing or buying a home in the Denver area—be aware of your credit score. Higher credit scores can mean a better chance of getting approved for a loan as well as a lower interest rate.
Here are five things you can do to help bump up your credit scores and keep them working for you whether you live in Denver, Seattle, Boston or anywhere in-between.
1. Get and Check Your Credit Report Scores – Specifically, you want to look for any accounts or late payments that are not yours, … (2 comments)
credit scores: Denver Homeowners' Credit Scores Become Easier to Track Down in 2011
- 01/14/11 08:42 AM
Although you may be a pillar of the Denver homeowner community, admired by your colleagues, and loved by friends and family, you may still have a mediocre credit score. This, of course, means you might not be able to get a decent interest rate on a mortgage, which is worrisome to a lot of people. What's even more troubling is the secrecy surrounding the entire credit-scoring process.
A federal law enacted in 2003 requires the three credit bureaus to provide consumers with a free copy of their credit reports each year, but they’re not required to include your credit … (1 comments)
credit scores: Denver Short Sales and FICO Scores - Fair Isaac Reveals The Formula
- 04/28/10 03:33 PM
Ever wonder how much your fico score changes with a short sale? The answer is around 85-160 points. If you're delinquent on your mortgage, your credit score will suffer. Everyone knows that. The question is, by how much? Until recently, those answers were hard to come by. Credit bureaus were uncommunicative about expressing, in points, just how much impact different foreclosure types of mortgage delinquencies have on scores. Recently, Fair Isaac, which developed FICO scores, pulled back the curtain a bit, revealing some estimates of point-score declines following mortgage delinquency problems. Here are the average hit your credit will take: 30 … (0 comments)
credit scores: New FHA Rules Will Impact Denver Home Buying
- 03/13/09 08:19 AM
Our national priority is to "Fix Housing First" and insure that never again will homeowners be lured into enticing but dangerous loans. Having a home is important to people but it must be affordable and must be responsibly financed. In plain English, this means good candidates for home ownership right now are people with steady income, good credit, and down payment funds in hand. FHA recently made two announcements to facilitate these goals. FHA Great News: Loan amounts have been increased by HUD in many areas! In the Denver metro area, the new limit is $406,250. This means the benefits of … (0 comments)
credit scores: New FICO Scoring System A Two Edged Sword for Consumers
- 01/27/09 10:42 AM
Credit scores often determine a person's ability to make major purchases like a home or car at favorable interest rates or to qualify for credit at all. After a long delay, a revamped credit scoring system, FICO 08, will be introduced in late January, 2009 by the Transunion Credit Bureau, with Equifax and Experian to follow later in the year. The system offers a few advantages for consumers. 1. Collection accounts under $100 will be ignored in scoring. 2. A big problem like a chargeoff or repossession will have less of a negative impact on a consumer score than in the … (0 comments)
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If you’re planning any sort of large financial transaction—such as refinancing or buying a home in the Denver area—be aware of your credit score. Higher credit scores can mean a better chance of getting approved for a loan as well as a lower interest rate.
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