Credit Scores

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 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 225,000+ purchase loan requests on the Zillow Mortgage Marketplace. What ... 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 »

Short Sale vs. Foreclosure: What’s the Credit Score Impact?

Short Sale vs. Foreclosure: What’s the Credit Score Impact?
May 30, 2012 3 Comments »

Mortgage match-up: “Foreclosure vs. short sale on your credit report.” It’s been a while since I’ve come up with a mortgage match-up, but there’s been a lot of fuss about short sales and credit scores lately, so I wanted to ... Read More »

Barely Any Mortgages Offered to Home Buyers With Credit Scores Below 620

Barely Any Mortgages Offered to Home Buyers With Credit Scores Below 620
November 14, 2011 No Comments »

The National Association of Realtors recently noted that home purchase contract failures have doubled, with 18 percent of NAR members reporting fallout in recent months. Put simply, a contract failure is a cancellation related to a declined mortgage application, a ... Read More »

A Mediocre Credit Score Will Cost You Big on Your Mortgage

A Mediocre Credit Score Will Cost You Big on Your Mortgage
October 11, 2011 No Comments »

While there are a number of factors that determine what mortgage rate you’ll qualify for, assuming you can indeed qualify for a mortgage, perhaps the most important is credit score. Why? Well, for one, a credit score can make or ... Read More »

What Credit Score Do I Need to Get a Mortgage?

June 3, 2011 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 your existing mortgage, you should know that your credit score is hugely important. Why? Well, banks and mortgage ... Read More »