Learn about how your credit rating impacts your mortgage.
Understanding your credit history and your credit score is essential if you want to get a great mortgage and a low interest rate. Far too often homeowners and potential homeowners don’t take enough time to review their credit and see how it may affect the terms they might get with a new mortgage. Having the … Read more
This article originated from the FTC, please contact them for the most up-to-date information. Accuracy in credit reports is an important part of your credit history. The Fair Credit Reporting Act (FCRA), enforced by the Federal Trade Commission, is designed to promote accuracy and ensure the privacy of the information used in consumer reports. Recent … Read more
A FICO score is also known as your “credit score” and it’s a measurement of your credit history in the form of a three digit number that ranges from 300 to 850. Scores 740 and above are excellent, 700-739 are good, 660 – 699 average, 620 – 659 below average and below 620 is poor. … Read more
Your credit rating is a very important aspect of mortgage lending. Your credit rating gives the mortgage company information about whether or not you be able to repay the money you’re borrowing. Sometimes people think their credit rating is great when in fact it’s not due to some miss payments and/or a high level of … Read more
A good credit rating is very important when obtaining a new mortgage. Businesses inspect your credit history when they evaluate your applications for credit, insurance, employment, and leases. Based on your credit payment history, businesses may choose to grant or deny credit, provided you receive fair and equal treatment. Sometimes, things happen that can cause credit … Read more
Credit and divorce – an important subject to cover for homeowners. Knowing the different types of credit accounts on your credit report will give you a better understanding of your credit report. If you’ve recently been through a divorce or are contemplating one, you may want to look closely at issues involving credit. At JB … Read more
Having a good understanding of your credit report can save you time and money. At JB Mortgage Capital, Inc. we strive to provide important mortgage information to our clients. Below is information about credit scores and how they are affected. I’m posting this article (By Julie E. Sturgeon) because it does a great job explaining … Read more