A new option that should be available by fall of this year will allow borrowers current on their mortgages to execute short refinances into FHA loans, assuming the original loan is not FHA-insured. In fact, the new loan must NOT be owned or guaranteed by the FHA, VA, or the USDA. So essentially only those [&hellip
The post FHA Short Refinance Option Coming Soon first appeared on The Truth About Mortgage.
These days, itâs not uncommon for individuals to open a bunch of credit cards in a short span of time to acquire lots of points and/or cash back. Those who do it on a serial basis are known as churners. They basically open and close credit cards constantly to take advantage of the benefits without [&hellip
The post Can Credit Card Churning Hurt Your Chances of Getting a Mortgage? first appeared on The Truth About Mortgage.
Whether youâre trying to buy a home or apply for a new job, your credit score impacts many different areas of your life. Your FICO credit score will range anywhere from 300 to 850 and…
The post Learn These 7 Credit Hacks to Improve Your Credit Score appeared first on Crediful.
Your credit score is more than just a number. It represents how reliable a borrower you are and how well (or poorly) you manage your debt. Just like your SAT scores back in high school (which I prefer to never...
The post What Your Credit Score Says About You appeared first on MintLife Blog.
Launched in 2006 by the three major credit bureaus Experian, Equifax and TransUnion, the VantageScore is a credit scoring model that was created as an alternative to the FICO score. Both credit scoring systems feature a three-digit number that financial...
The post What Affects My VantageScore? (Infographic) appeared first on MintLife Blog.
Your credit score is calculated using a complex algorithm based on a number of factors. In order to improve your credit score, itâs important to understand how credit bureaus determine it so that you can…
The post 3 Different Types of Credit and How They Affect Your Credit Score appeared first on Crediful.
Here we go again? Maybe, maybe not. Regardless, Carrington Mortgage has launched a new line of subprime mortgages available to the 100 million odd U.S. consumers who have less than perfect credit. For the record, Carrington already offers subprime loans via government channels, like the FHA and VA, since both permit credit scores in the [&hellip
The post Carrington Mortgage Launches Line of Subprime Mortgages first appeared on The Truth About Mortgage.
In an effort to undo some of the damage the Federal Housing Finance Agency (FHFA) basically caused itself, itâs throwing a bone to so-called low-income families to save on their mortgage. It all spurs from the adverse market fee the very same agency implemented back in August 2020 to contend with heightened losses related to [&hellip
The post New Fannie/Freddie Refinance Option Drops Adverse Market Fee, Offers 0 Appraisal Credit first appeared on The Truth About Mortgage.