Your FICO® ScoreÎ falls within a range, from 740 to 799, that may be considered Very Good. A 742 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders better interest rates and product offers. In statistical terms, just 1% of consumers with Very Good … Read more
Your credit utilization rate is an influential factor in your credit scores. This ratio indicates how much of the available credit on your credit cards youre using at a given time. While some financial experts recommend keeping your utilization rate at 30% or below, there is no magic threshold. In reality, you can never have … Read more
You can buy a house with a 5% down conventional loan, and, despite PMI, it could be less expensive in the long run than saving up 20%. Are you among the many aspiring homeowners who have been told that you need a whopping 20% down payment to buy your dream home? If so, youre not … Read more
Creditors play a crucial role in the financial system, yet their function is often misunderstood. In one sentence a creditor is an individual or institution that extends credit to another party, allowing them to borrow money that is to be repaid at a future date. This concise definition captures the essence of what a creditor … Read more
Learn how to buy a house with poor credit and what steps you can take to improve your financial health. If the thought of buying a home has you nervous because your credit is less than perfect, don’t give up hope. It may be possible to buy a home with bad credit. Read on to … Read more
When we submit a mortgage application together, the most common thing that proves challenging is getting the right paperwork to prove your deposit. It’s more complex than you might think! Here, we explain why, and how to make the process as smooth as possible. Proving your deposit does 2 things: When applying for a mortgage … Read more
Having debt and owing money to creditors can be an incredibly stressful situation. Creditors and debt collectors contacting you to repay debts can feel overwhelming. However, there are certain laws that protect some of your income and assets from creditors and debt collection. This income is considered “exempt” and cannot be taken to pay back … Read more
Having your credit score suddenly drop 70 points or more can be confusing and concerning especially if you don’t know the reason why. As someone who cares about my credit score, I wanted to get to the bottom of this question and explain the most common reasons your score could plummet like that out of … Read more
One question we get a lot of the time is why is my mortgage payoff higher than my mortgage statement balance? Why is it higher than I thought? Some people have asked us if part of this balance is a markup or overage on our behalf. So, let’s just get that right out of the … Read more
When you first get a credit card, your credit line (also called a credit limit) may not be as high as youd like. After youve had the new credit card for a while, you may be able to request a credit limit increase. Having a credit card with a generous credit limit can be useful. … Read more