Currently viewing the tag: "FICO"

First Time Home Buyer Loan Comparison

On February 10, 2011 By

Without a doubt, the most common comparison between loans for first time home buyers is the FHA vs. Conventional calculation.  

We’re in an interesting market right now where the FHA loan has been generally about .25% less expensive in terms of mortgage rate.  

 rates do absolutely vary between [...]

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Loan Level Price Adjustments = Higher Loan Costs

On January 6, 2011 By

Starting April 1, 2011, loan-level pricing adjustments are increasing. Most conforming mortgage applicants will face higher loan costs.

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Credit Scores and Mortgage Rates

On November 2, 2010 By

Mortgage approvals are largely based on income, equity and assets. Mortgage rates are driven by credit score.

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Credit Score Scenarios for 680 and 780 FICOs

On October 21, 2010 By

With loan-level price adjustments (LLPA) directly relating your mortgage rate to your credit score, some of these changes can be mean more than a 1% fee on a loan.

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Credit Tips from Today Show

On February 5, 2010 By

Lending guidelines for home loan approvals continue to tighten. Even 720 ’s see adjustments on some loan programs these days.

To get the , you need the best Continue Reading →

7 Ways To Protect Your Credit Score For Better Mortgage Rates

On February 5, 2010 By

Credit scores not only make the difference between a mortgage approval and mortgage turn-down, but they also play a large role in determining your actual mortgage note rate. In the 3-minute piece, the NBC Today Show talks about 7 ways that homebuyers ruin their credit — often by accident.

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FICA

On September 23, 2008 By

The Federal Insurance Contributions Act consists of payments to the Social Security retirement supplement system and the Medicare hospital insurance program. A tax for each component is levied on employers, employees and certain self-employed individuals. These taxes are taken out of your paycheck separately from your income taxes.

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