There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed! Only 25% of the Americans have a FICO® Score between 740 and 800. Here is the breakdown […]
How Does Credit Scoring Really Work?
February 10, 2019 by ·
Credit scores are based on a consumer’s credit record maintained by the credit reporting agencies. Computers are used to analyze a person’s credit report data in order to generate a statistical number, referred to as a credit score. This number is used as an indicator to the likelihood a person will pay the loan back. When […]
Prepare the New Year With Credit Score Tips
December 28, 2018 by ·
Start the New Year out right with some tips of how to manage your credit score. Bad credit can keep people from buying a home, financing an education, and even from getting a job. This is why it’s so important to build good credit. Starting with your first credit card, everything that involves credit becomes part of ones credit […]
What Makes Up a Credit Score??
December 12, 2018 by ·
A credit score is an extremely important financial tool. It provides access to the financing you need in order to buy a car, a home, or pay for college tuition, among other things. Since higher scores result in lower costs, it’s vital to understand the factors involved in calculating your score. Here are the […]
What does disputing a tradeline do to your Credit Score?
December 5, 2018 by ·
Your credit score will open doors for you when you are in the need to borrow money and your score will determine the cost of that money. So protecting it is extremely important. Our topic of discussion today is to review Disputing Credit and how it affects your score and your ability to move forward […]
Validating A Collection Debt
November 19, 2018 by ·
Andorra Credit Repair shares some great information on Validating a Collection Debt on your Credit Report: You find a Collection Debt on your credit report and you just don’t remember it….what do you do? Ask for a validation notice. A debt collector must send you a validation notice within five days that explains how much […]
Equifax Breach- One Year Later (Infographic)
September 20, 2018 by ·
Karen Jones is a Licensed Mortgage Loan Officer (NMLS 307015) located in Phoenix and serving Arizona families with their home lending needs. As a Banker of over 32 years, Karen is dedicated in ensuring that her clients are well educated and prepared for their new home purchase. Learn more about our 100% Financing programs and obtain your Underwriting Credit […]
Credit Scoring Models- FICO (Fair Isaac) to Vantage
July 25, 2018 by ·
Credit scoring started in the late 1950’s to support lending decisions in large department stores. The concept was revolutionary and by the end of the 1970’s most of the nation’s largest commercial banks, finance companies, and credit card issuers used credit scoring. It became widely accepted once Fannie Mae and Freddie Mac fully endorsed the […]
What Is Private Mortgage Insurance (PMI)?
May 10, 2018 by ·
When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI). What […]
Credit Can Be Your Best Friend or Your Worst Nightmare
April 16, 2018 by ·
For those that are new to the credit world, understanding how to manage your credit is imperative. I would like to thank Sal Bonanno from National Account Manager | First Premier Credit Repair for his article: Bad credit keep people from buying a home, financing your education, and even from getting a job. This is why it’s […]
