What to know about FICOâs new credit scoring system
FICO is set to roll out a new credit scoring system at some point during the summer. Hereâs what you need to know.
FICO is set to roll out a new credit scoring system at some point during the summer. Hereâs what you need to know.
Let’s begin with some definitions.
If you ask most people, theyâll probably say you should save up a good chunk of money before buying a home, possibly even 20% of the purchase price. A mortgage underwriter might share similar sentiment, even if their very own loan programs allow for low or even zero down payments. The general thinking is that [&hellip
The post Why a Low Down Payment Mortgage Might Be the Safer Move first appeared on The Truth About Mortgage.
If youâre in the market to buy a new home or condo, youâve undoubtedly thought (or stressed) about the required down payment. It’s one of the biggest roadblocks to homeownership, and an obstacle that never seems to get any better over time. In fact, Zillow recently noted that it takes the average American over seven [&hellip
The post Mortgage Down Payment Requirements: How Much Do I Need to Put Down? first appeared on The Truth About Mortgage.
Itâs no secret the housing market has softened in recent months. Homes are no longer flying off the shelves, and bidding wars are becoming less and less common. Instead of properties going way above asking, home sellers are delivering price reductions to prospective buyers, who are often nowhere in sight. While some are quick to [&hellip
The post Don’t Be a Desperate Home Buyer first appeared on The Truth About Mortgage.
Perhaps the most intimidating part of buying a home is applying for a mortgage. You may know exactly what “APR,” “points” and “fixed-rate” mean – but if this is your first home, or you just need a refresher, there are a lot of great resources to get you up to speed so you can be a well-prepared […]
The post What Is a Mortgage and How Does It Work? appeared first on Home Buyers Guide.
You may be a first-time home buyer and not even know it. That’s because in the world of real estate, “first time” really means “first time in a while.” Most programs aimed at helping first-time home buyers define that as someone who hasn’t owned a home in the last three years. That’s the good news. […]
The post 'First-Time Buyer' Loan Programs Can Be Tricky appeared first on Home Buyers Guide.