credit score: READ THIS Credit Score Requirements C-H-A-N-G-I-N-G!
- 01/23/09 08:01 AM
This post by Eleanor Thorne has to do with minimum credit scores that she has to deal with specific to her lenders. However, it is the case that this is happening industry wide. There will be fewer and fewer loans available, if at all, for lower credit score borrowers. There are ways to increase your credit score, but don't fall for the shysters that are out there just to take your money. As per normal, I have disabled comments on this blog. If you would like to make a comment, please do it on Eleanor's blog post, she wrote it.
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credit score: Conventional Mortgage Rates - Loan to Value and Credit Score - How Rates are Determined
- 12/29/08 06:52 AM
I am trying to use my own website more and more to post information for both first time home buyers and people interested in refinancing their current mortgage loans to get a lower rate, so the following was originally published on Eugeneloanguy.com and with a Eugene Area Realtor, Dennis Pease's blog. I think this information is especially valuable for anyone wondering why their mortgage rate is what it is. Mortgage rates can be very confusing for the uninitiated and this is just a bit of background to help understand some of what goes on in the background. This is the repost from … (12 comments)
credit score: FHA Mortgage Loan Credit Requirements
- 12/22/08 01:56 PM
This is Part Two in a three part series about FHA mortgage loans. Part One talked about the changes in FHA loans going into effect on Jan. 1 and the things that wouldn’t be changing. In this installment, I will cover some credit issues having to do with FHA loans. FHA mortgage loans do not have a minimum credit score requirement. However, FHA does not make the loans, they insure them. The lenders that make the loans may have different rules. In this case, it is the Golden Rule; he with the gold makes the rule!
Different lenders, … (15 comments)
credit score: Loan Modification Question, How Can You Get Help If You Value Your Credit?
- 12/07/08 04:26 AM
Loan Modification has been my cry for some time. I believe it will do more to help us get out of the foreclosure mess than almost anything else under consideration. However, mortgage loans that are not delinquent and/or on the verge of foreclosure and being forgotten. I got this e-mail this week because of a post that I did on loan modification and honestly don't know what to do for this person. If anyone has any ideas, I would appreciate hearing from them with ideas: I was wondering if you could by any chance provide me some advice or lead me … (51 comments)
credit score: Credit Scores and how they affect your real estate purchasing rates and power
- 09/03/08 06:30 AM
Barry Habib, Chairman of Mortgage Success Source, was recently interviewed by Fox Business News and he was asked about inproving your credit scores. You can see the interview here. I found a lot of his answers a bit simplistic but still very helpful to the majority of people that have lower credit than their payment history deserves. Now, there are no "Credit Faries," even if you believe in the Tooth Fairy. There is not magic thing that will correct your credit if it actually reveals your method of handling credit. In other words, if you pay things late as a general rule, … (0 comments)
credit score: It's Free, It's Fun, It's Your Credit Report?
- 08/26/08 10:07 AM
Jason is a fairly new friend of mine. We now have an almost bi-coastal relationship. I enjoy his blogs and have been trying to keep up with what he writes. This particular posting is about credit and credit reports. I may have been able to do it nearly as well, but he did all the hard work. So, credit where credit is due, thanks to Jason Sardi for this excellent explanation on credit. Thanks Jason.
To say your credit history & score is HUGE these days may be a borderline understatement. For purposes of my experience, I'll concentrate on how … (2 comments)
credit score: Mortgage loan rates and fees, why are there fees for Real Estate loans? Answers from a Eugene Oregon Real Estate Loan Officer
- 08/08/08 06:08 AM
I just finished a blog from a Realtor in Florida and was concerned about some of her misconceptions of the mortgage industry. I have quoted her here and would like to respond to what she said, one item at a time. Her comments are in italic. If you want to lessen your mortgage amount or at least get a fairer value, you should know more about the five common mortgage fees you should avoid. Yes, you can prevent yourself from incurring and shouldering the following charges: (Just because you think you should not pay a particular fee, it doesn't mean it … (10 comments)
credit score: FHA Mortgage Insurance changes
- 07/01/08 10:24 AM
Effective this month, FHA mortgage insurance becomes risk based. There are changes to both the upfront mortgage insurance premium (UFMIP) and the yearly (paid monthly) premium. That means that the higher the loan to value and the lower the credit the higher the premium is. At the same time, the lower the loan to value and the higher the credit score, the lower the premium. Best deal is a credit score of over 640 and a loan to value of 95% or less. The new UFMIP is lower than before at 1.25%. The yearly stays the same at .5%. It can … (0 comments)
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This post by Eleanor Thorne has to do with minimum credit scores that she has to deal with specific to her lenders. However, it is the case that this is happening industry wide. There will be fewer and fewer loans available, if at all, for lower credit score borrowers. There are ways to increase your credit score, but don't fall for the shysters that are out there just to take your money. As per normal, I have disabled comments on this blog. If you would like to make a comment, please do it on Eleanor's blog post, she wrote it.
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