Tag Archives: credit score

Turned Down for a Mortgage? What to Do if You are Declined – and How to Get Second Opinion

  If you have been declined for a mortgage, you may think that home ownership is out of reach. However, there are ways to turn a rejection into an approval and to find a more accessible loan. Here are just a few steps you can take to learn about your loan options and get the mortgage that works for you. Find Out Why The Mortgage Application Was Denied The first step to getting a second opinion is to find out why your mortgage application was denied. Banks commonly deny mortgages for reasons like a low credit score, a high debt-to-income ratio, or concerns about the applicant's past and present emplo ... Click to Continue

First-time Home Buyer? Don’t Miss These Tips to Ensure Your Mortgage Application is approved

Are you buying a home for the first time? Congratulations! Buying your own home is an excellent way to build your net worth while living in a space that you can renovate and truly make your own. If you're going to be taking out a mortgage to help pay for the up-front costs of your home, you'll want to get a head start on the approval process while you are working with your trusted Real Estate professional. With that in mind, below are four handy tips to ensure that your mortgage application is approved on your first try. Gather All Of The Necessary Information And Paperwork You're going to need as much fina ... Click to Continue

FICO Scores and Your Mortgage: How to Bump Your FICO Score to Secure a Better Mortgage Rate

Is your credit score holding you back from getting the best rate on your next mortgage? The good news is that there are actions that you can take to increase your FICO Score and improve the interest rate that are offered on your next home loan. Here are a few easy and effective tips to help you get your credit score to where you want it to be. Increase The Amount Of Credit Available To You The easiest way to increase your credit score is to increase your credit limit, as this reduces your utilization ratio. To do this, you can either apply for another credit card or ask a current credit card provider to incre ... Click to Continue

Children Leaving the Nest? 3 Pieces of Sage Advice You Can Share About How to Manage a Mortgage

              Before you know it your time has flown by and now you’re are no longer changing diapers, attending their sporting events, senior prom  or catching that college graduation!  Where did the time go?  Don't worry you’re Parenting never ends. In fact,  when your children are about to step out into the world on their own, you'll want to help them on their way, especially when it comes to buying a house. As your sons or daughters prepare to take the plunge into home ownership, make sure they follow three crucial tips that will help them during ... Click to Continue

Understanding Your Credit Score and How It Impacts Your Home Ownership Prospects

  Your credit score is an important part of your financial profile. It has a direct impact on your ability to take out loans. The score itself is a numerical reflection of your credit history. It gives lenders a way to discern your reliability before approving a loan like a mortgage for instance. Though this is the basic function of a credit score, it can also have a far-reaching influence over other aspects of home ownership. Mortgage Loan Approval: Will Your Score Make the Cut? First and foremost, the status of your credit score is a deciding factor in whether or not you are appro ... Click to Continue