BETTER CREDIT SCORE, CHEAPER HOUSE PAYMENT
January 25, 2010 by Jennifer
Filed under Deb & Jen's Blog, FICO score and Credit Report information, Getting a Mortgage, Your Credit Score information
A family put a 3.5% down payment on a $172,900 house with a resulting loan of $166,850. Here is what their bottom line would look like… Score Rate Monthly Payment Total Cost 760+ 4.981% $893.75 $326,900 700-759 5.203% $916.50 $335,090 680-699 5.380% $934.83 $341,689 660-679 5.594% $957.22 $349,749 640-659 6.024% $1002.93 $366,205 620-639 6.570% $1062.30 $387,578 Less... [Read more...]
How is your FICO Score Calculated? And how can you Improve it?
January 22, 2010 by Deborah
Filed under FICO score and Credit Report information, Hot Off The Press!, Info for Home Buyers, Your Credit Score information
Payment History (35%) How often you are late and by how many days, set up automatic payments to guarantee you’re never late. Pay your bills on time and you will improve your score within months. Total Debt (30%) Higher debt loads work against you; “Usage Ratio” is the difference between what you owe on credit cards and your available... [Read more...]
FICO Scores and your Credit Report
January 22, 2010 by Deborah
Filed under Deb & Jen's Blog, FICO score and Credit Report information, Info for Home Buyers, Your Credit Score information
The Fair Credit Reporting Act guarantees you access to a free credit report from each of the 3 nationwide reporting agencies – Experian, Equifax and TransUnion – every 12 months. For a safe and secure way to obtain your free credit report start by going to www.ftc.gov. on “Free Credit Reports” and that will take you to another... [Read more...]
