Sep 20th 2012 3:45PM
By Gerri Detweiler Will a mortgage help -- or hurt -- your credit? If you're thinking, "Well, both," you're exactly right. But there are subtleties involved that may surprise you. To get a mortgage these days, a lender is going to closely scrutinize your income, debt and credit history before giving you the loan. That... Continue Reading »
May 19th 2011 1:05PM
It's a Catch-22 if ever there was one. The very process of shopping around for a low interest rate on a mortgage can adversely impact your credit score and cost you your eligibility for the cheaper loan you're seeking. Each time a lender does what is known as a "hard pull" on your credit report, their action actually... Continue Reading »
Dec 1st 2010 11:21AM
New credit-scoring rules are making qualifying for a mortgage more challenging than ever. Our sister site WalletPop explains how Fair Isaac, the company that produces the dreaded FICO score, has introduced a new, more rigorous version called the FICO 8 Mortgage Score. Another credit score, known as VantageScore, is... Continue Reading »
Nov 29th 2010 1:30PM
Freddie Mac is squeezing lenders tighter this spring, and that means higher fees will be passed on to homebuyers. The government-sponsored mortgage-finance company stated in a memo last week that it will raise upfront fees to lenders on riskier home loans, including those for homebuyers with lower credit ratings and... Continue Reading »
Nov 12th 2010 3:55PM
If you're having trouble taking advantage of today's historically low interest rates, you're not alone. Even someone whose been in the real estate business for years as a real estate appraiser, Anthony Lavia, told HousingWatch that he's been denied refis by two banks even though he owes just about 60 percent on his home in... Continue Reading »
