Mortgages and Credit

If you're thinking about buying a new home and using a mortgage to help cover some of the purchase costs, it's a good idea to get an initial pre-approval from your lender before putting in an offer. In today's blog post we'll share three quick tips that can help to ensure that your mortgage pre-approval isn't declined. Demonstrate Your Income and Good Credit A mortgage is a major financial transaction and one that carries a certain amount of risk for the lender. It's your goal to help them see that you have the ability to make your monthly payments and…

Are you about to apply for a mortgage loan in order to buy a home? If so, you may be curious about your credit score and how this might impact your financing. Let's take a quick look at how FICO credit scores can affect your mortgage and share a couple of ways that you can boost your score to ensure your application is approved. What is a FICO Score? The Fair Isaac Corporation (FICO) is the country's leading producer of credit scoring information and is the primary source that most lenders will check to assess how much risk you present.…