CREDIT CORNER-Episode 3

“My Credit Scores Are Over 820. Why Does My Mortgage Lender Say 744?” It’s a question that can be surprising—and frustrating—for someone preparing to buy or refinance a home: “When I check my credit, my scores are above 800. Why is my mortgage qualifying score only 744?” Here’s a real-world example: A borrower saw VantageScores…

The 10 Most Important Credit Steps to Take Before House Hunting: A Homebuyer’s Credit Readiness Checklist Every year, thousands of prospective homebuyers spend weeks browsing homes online, attending open houses, and imagining themselves in their dream home—only to discover that a credit issue or financing obstacle delays their plans. The good news? Many of these…

How New Credit Scoring Could Help More Homebuyers Qualify. For years, many homebuyers believed their mortgage options were controlled entirely by one thing: Their FICO score. Now, the lending world is beginning to shift in a very important way. A newer scoring model called VantageScore is rapidly expanding across the mortgage industry, and it could…