Credit Scores

Credit scores play a big part in the mortgage world. Learn how you can make the most of your score to expand your options and snag the best rate.

What Credit Score Do I Need to Get a Mortgage?

What Credit Score Do I Need to Get a Mortgage?
May 7, 2019 2 Comments »

Mortgage Q&A: “What credit score do I need to get a mortgage?” If you’re thinking about purchasing a new home or refinancing an existing mortgage, you should know that your credit score is going to be a big factor. In ... Read More »

Does Refinancing Hurt Your Credit Score?

Does Refinancing Hurt Your Credit Score?
March 25, 2019 No Comments »

Mortgage Q&A: “Does refinancing hurt your credit score?” Consumers seem to be obsessed with their credit scores and what impact certain actions may have on them. Perhaps the credit bureaus and credit score distributors are to blame, as they’re constantly ... Read More »

Two Simple Ways to Boost Your Credit Score Before Applying for a Mortgage

Two Simple Ways to Boost Your Credit Score Before Applying for a Mortgage
May 16, 2016 No Comments »

About a month ago, I cautioned readers to avoid swiping the credit card before applying for a mortgage. In short, the more you charge, the higher your outstanding balances. And the higher your balances, the lower your available credit and ... Read More »

Nearly Half of Home Purchases Are Delayed Due to Low Credit Scores

Nearly Half of Home Purchases Are Delayed Due to Low Credit Scores
May 2, 2016 No Comments »

I’ve written about the importance of credit scores before, especially when it comes to getting a mortgage, mentioning that you could save tens of thousands of dollars if you simply had excellent credit. Fortunately, it appears that the general public ... Read More »

Zillow: Credit Score Single Most Important Factor for Mortgage Rates

Zillow: Credit Score Single Most Important Factor for Mortgage Rates
September 26, 2013 No Comments »

This morning, Zillow, the company behind the love it or hate it Zestimate, released a new study that analyzed the impact credit scores have on mortgage rates and corresponding payments. The company used data from 13 million loan quotes and ... Read More »

Purchase Applications Grab Majority Share of Mortgage Market in July as Refinances Fade Away

Purchase Applications Grab Majority Share of Mortgage Market in July as Refinances Fade Away
August 22, 2013 No Comments »

There’s been a lot of fuss about the refinance market drying up lately, and we now know it’s not just noise. Last month, purchase-money mortgages gobbled up the majority share of the overall mortgage market, according to the latest Origination ... Read More »

Study: Minimum Credit Card Payments Increase Risk of Mortgage Default

Study: Minimum Credit Card Payments Increase Risk of Mortgage Default
August 2, 2013 No Comments »

A new study from credit reporting agency TransUnion revealed some interesting insights about credit card use and mortgage performance. The report titled, “TransUnion Minimum vs. Actual Payments Study,” found that roughly four in 10 consumers pay off their credit cards ... Read More »

Slowing Mortgage Market Could Lead to Looser Lending

Slowing Mortgage Market Could Lead to Looser Lending
May 20, 2013 1 Comment »

The forecast for the 2013 residential mortgage market wasn’t all that optimistic. Back in December, the Mortgage Bankers Association said it expected refinance volume to slip to $785 billion from $1.2 trillion in 2012, while purchase money mortgage activity was ... Read More »

Fico Explains Why Short Sales Hurt Your Credit Score

Fico Explains Why Short Sales Hurt Your Credit Score
September 25, 2012 No Comments »

There’s been a lot of confusion about short sales, especially with regard to how they affect one’s credit score. Plenty of people have recommended them as an alternative to foreclosure, even going as far as to say they can spare ... Read More »

Taking Out a Mortgage Can Help Your Credit Score

Taking Out a Mortgage Can Help Your Credit Score
August 22, 2012 No Comments »

If you’ve ever pulled your credit report and/or score, you may have noticed that the lack of a mortgage could actually be holding you back from credit score perfection. You may already have a seemingly great credit score, but the ... Read More »