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. For credit scores that range from 300 to 850, a credit score in the mid to high 600s or above … Read more
A mortgage refinance can often help make your household finances a bit more manageable. But is refinancing a good idea right before you sell your home? Probably not – and we’ll explain why. Before making your decision, learn about the reasons why some home sellers choose to refinance as well as the types of refinancing … Read more
An FHA mortgage appraisal is a type of home appraisal completed for Federal Housing Administration (FHA) loans. FHA appraisals are considered more rigorous than standard home appraisals. Whether youâre refinancing or buying a house with an FHA loan â or youâre a seller and your buyer is using an FHA loan â understanding FHA appraisals … Read more
Using a credit card can be convenient and help you earn rewards, but there are certain purchases that experts recommend avoiding putting on your credit card. Charging the wrong items can lead to debt, high interest charges, and other financial issues that outweigh any rewards you might earn. As someone who wants to use credit … Read more
A charge-off can remain on your credit report for seven years from the date the creditor charged off the debt. A charge-off, which appears on your credit report after a lender or other creditor gives up trying to collect a debt you owe, remains on your credit report for seven years. Lenders view charge-offs as … Read more
So, you’re thinking about buying a house. That’s exciting! Not only is buying a home a great way to build wealth, but there’s something special about owning your house—it feels more like home. But I’m guessing you’ve got one big question on your mind: How much money do I need to buy a house? Figuring … Read more
A credit score of 680 puts you in the “good” credit range, but is it good enough to get approved for a mortgage and buy a house? As an experienced mortgage advisor, I’m often asked this question by homebuyers who want to know if their credit score will allow them to achieve their dream of … Read more
If you knowingly report inaccurate data on a credit application, you’re committing fraud. And while a credit card issuer might not immediately request verification, legally its possible. Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this … Read more
Putting down 20% on a home purchase can reduce your monthly payment, eliminate private mortgage insurance and possibly give you a lower interest rate. However, it can take a long time for first-time homebuyers to achieve this goal, and it may not be as beneficial during periods of low interest rates, particularly if you have … Read more
A house is one of the biggest purchases you can make, so figuring out how much you can afford is a key step in the home-buying process. You’ll need to start by weighing how much money you have coming in — your monthly earnings from your job, investments and any other streams of income — … Read more