If you have an emergency and can’t make this month’s car payment, you might be able to get some extra time by deferring the loan. Itll come at a cost, but it may be worth it to avoid the possibility of repossession. The thought of not being able to make your monthly car payment can … Read more
Which One Is Better Equifax TransUnion or Experian? When applying for credit, lenders will often check your credit report from one or more of the three major credit bureaus – Equifax, TransUnion and Experian. But is one bureau better than the others? Here’s an in-depth look at how these three credit bureaus compare. The Big … Read more
Purchasing your first home is an exciting milestone, but the process can be daunting if you don’t know what to expect. While buying a house is a joyful event, it’s also a huge financial decision that requires care and consideration. Making the wrong moves could cost you big time by resulting in a higher interest … Read more
Nearly a quarter (22%) of Americans have a FICO Score of 800 or higher, which the credit scoring company describes as exceptional. “Exceptional. According to how someone feels, the word could mean anything from a brand-new rookie card to being asked again to stay after class. Exceptional, on the other hand, refers to almost a … Read more
Mortgage lenders consider factors like a strong credit report, steady income and employment, a savings buffer, an adequate down payment and the ideal loan type. Youve found your dream home and youre ready to make whats probably the biggest purchase of your life. While a lucky few can pay for a home with cash, most … Read more
The American Express® Centurion Card holds cult celebrity status, even among other premium credit cards. Colloquially known as the “Black Card,” this prestigious credit card is only available to big spenders by direct Amex invitation. If youre curious about this mythical card wielded by A-list celebrities worldwide, read on to learn more. Black cards are … Read more
Most people take out a mortgage because they have to. Homes are expensive, and chances are good the average individual does not have hundreds of thousands of dollars to just write a check for one. But not everyone has to borrow to buy a house. Rich people with a lot of cash on hand may … Read more
Navigating the world of loans often leads borrowers to wonder about the roles and influence of loan officers and underwriters. Many ask, “Can a loan officer influence an underwriter?” Understanding this dynamic is crucial for anyone involved in the mortgage process. Lets dive deep into how these two essential players interact, how their roles differ, … Read more
FICO Scores are calculated using many different pieces of credit data in your credit report. The five groups that this data is divided into are payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%), and credit mix (10%). Your FICO Scores consider both positive and negative information in your credit … Read more
For a score with a range of 300 to 850, a credit score of 670 to 739 is considered good. Credit scores of 740 and above are very good while 800 and higher are excellent. Credit scores between 300 and 850 are good, with a score in the mid to high 600s or higher being … Read more