Tagged : credit score

Found 7 blog entries tagged as "credit score".

credit__semboda_tioss_halala_450Last month your credit score was 735. You checked it again this morning, and it’s 20 points lower. What’s up?

It could be any combination of factors. There are different credit scoring models used, and they can weigh factors differently to determine your score. To read the  five of the most common reasons you could experience a dip in your score:

Click the link below:

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interest__max5128_450To get the lowest mortgage rate available, just how good does your credit score have to be?

Try 740 and above, out of a possible 850. Unfortunately, that figure, from a study by mortgage-info firm Zillow.com, relegates a lot of would-be borrowers to the sidelines. Zillow says just 40.3% of Americans have such enviable scores. The industry has tightened up — in 2010, bottom-rate loans required a score of 720, a threshold met by 47% of potential applicants.

To read more of this article, click the link below:

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bank__olegdoroshin_450realestate.msn.com - If your credit is damaged, with a FICO score from 620 to 680, you'll have trouble getting a mortgage. If it's poor – 580 to 620 – more trouble. If it is toxic – below 580 – you're looking at a real struggle.

And yet, it can be done, under the right conditions, and with the right lender and loan officer helping you.

If you would like to read more about which type of loan would be best for your credit score, click the link below:

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realtor.com - You already know that your credit score is important when you’re buying a home. Your credit score isn’t just about how much credit you have and whether or not you pay your bills; it’s also about how you use the credit you have. Your credit-utilization ratio reflects how much of your available credit you regularly take advantage of.

Credit is a convenience, not a cash substitute, and that convenience has a cost. If you are using credit to meet your financial wants and needs on a regular basis, you may be on a dangerous path. If you find yourself having to use credit cards to meet your basic necessities of food, shelter and transportation, then stop and take a closer look at how you are conducting your life. Chances are if you don’t have

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Realtytimes.com - If you play the mortgage lottery for at shot a winning a home loan, you only need two numbers to win - 720 and 20.

A credit score of 720 or higher, combined with a down payment of 20 percent or more gives you the best shot at landing a mortgage like it's 2006.  Of course, you must otherwise pass muster with an honest application, adequate documented income, debt-to-income ratios, etc., etc. The Federal Reserve Board recently asked loan officers to indicate how much more or less likely it is today, compared with 2006, that their bank would originate a "GSE" (Government Sponsored Enterprise - Fannie Mae or Freddie Mac), 30-year, fixed-rate home mortgage to borrowers, based on a variety of credit score-down payment scenarios. To read…
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Dsnews.com - Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit.

The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.

Additionally, a Fed Senior Loan Officer Survey found credit requirements in the fourth quarter were consistent with the past three quarters.

However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability.

Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of

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DS news.com - Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit.

The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.

 

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