Posts Tagged With: Mortgage
Ask Kim: Tips to improve credit help mortgage application
A report from Tulsa World: Paying your bills on time has the biggest impact, so be particularly careful not to miss any deadlines before you apply for the mortgage. The following strategies aren’t as obvious but can also make a big difference. Here are tips for six months before you apply: Don’t open or even &hellip Continue reading
620, 680 or 720? What credit score do you need for a mortgage?
By Kirk HaverkampProvided by What kind of credit score do you need to qualify for a mortgage? A new survey of bank executives by the Federal Reserve provides some answers. It’s well-known that it’s harder to get a mortgage these days than it was back in the boom days of the housing bubble, when it seemed &hellip Continue reading
Low mortgage rates spur many to try to improve credit scores
Home interest rates plunged to historic lows this week as more South Floridians are working to boost their credit records so lenders will trust them with a mortgage. The average 30-year, fixed-rate mortgage interest rate plunged this week to 3.84 percent, Freddie Mac reported Thursday. Last year at this time, the rate was almost a &hellip Continue reading
Low mortgage rates likely to continue through 2012, experts say
A report from Los Angeles Times: The mortgage market told a sad story throughout 2011: record low rates, but few people taking advantage of them to buy homes. The likely scenario in the new year, according to many analysts, is more of the same. Although the Federal Reserve has pledged to keep rates low through &hellip Continue reading
Freddie Mac: Record low mortgage rates haven’t rescued housing
A report from Los Angeles Times: Lenders were offering 30-year fixed-rate mortgages to solid borrowers at an average of 3.95% this week, according to Freddie Mac, the ninth consecutive week of rates at or below 4%. That wrapped up a year of record lows for the survey, which dates back to 1971. In 1981 and &hellip Continue reading
Getting a Mortgage Loan When Your Partner Has Bad Credit
A report from NASDAQ: Most couples apply for mortgage loans jointly. But what happens when one of them has bad credit? Bad credit can be a real problem when there are joint mortgage applicants. Typically, the lender looks at the lowest of the two credit scores when deciding what interest rate to charge, so if &hellip Continue reading
Mortgage lenders poised to get more personal
Many consumers applying for a mortgage are going to start sharing more personal information with lenders next year, like it or not. FICO scores, the industry standard for determining credit risk in mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration, largely have been based on a person’s credit history. But in &hellip Continue reading