Credit scores are like report cards from different teachers. They’re all grading the same student (you) but they weigh things differently based on what they think matters most. So if you’ve looked at all three major credit bureaus (Experian, Equifax, and TransUnion) and thought, “Why is my Experian score lower than the others?” you’re not … Read more
Mortgage lenders usually verify your employment by contacting your employer directly and reviewing recent income documentation. The borrower must sign a form authorizing an employer to release employment and income information to a prospective lender. At that point, the lender typically calls the employer to obtain the necessary information. Employers are usually happy to help, … Read more
Most married or engaged couples thinking of buying a house combine their income and credit scores when applying for a mortgage. But sometimes, doing so may not help you achieve your goals, provoking the question: Can a married couple buy a home with only one partnerâs name on the mortgage? The short answer is yes, … Read more
Your credit reports contain a lot of information, but some items are more important than others. Part of the Series Debt Management Guide What do lenders consider when they look at your credit report? Its a simple question with a complicated answer, because there are no universal standards by which every lender judges potential borrowers. … Read more
The steps you take to improve your credit score will depend on your unique credit profile. In general, its important to understand the factors that influence your score, including your payment history, amounts owed, length of credit history, credit mix and new credit. There are several ways you can improve your credit score, including making … Read more
A credit reporting agency, also known as a credit bureau, is a company that collects your credit history from various financial institutions. They use this information to create your credit report. There are three main credit reporting agencies in the United States—Experian, Equifax, and TransUnion. What Credit Bureau Does Discover Report To? Uncovering The Facts … Read more
Buying a house is an exciting milestone in life. However, taking on a mortgage is a huge financial commitment that involves weighing your income, savings, credit score and existing debts. If you have a significant amount of debt, you may be wondering if homeownership is possible for you right now. The answer is not straightforward. … Read more
Lines of credit can provide versatility but there are risks to consider Part of the Series Running a Successful Small Business When you need money, you may consider getting a personal loan, which provides a lump-sum amount. However, if you don’t know exactly how much money you may need, you may want to consider a … Read more
Exclusive credit cards are often associated with wealth and privilege, but using one can be more about being noticed than having deep pockets. Many of these swank cards are invite-only, with little to no confirmed information about how to get on the list. For the fortunate few, the benefits of these status-symbol cards can help … Read more
Mortgage points are kind of like free throws in a basketball game. And points are how you win the game, so you want as many as you can get, right? Turns out, these points come at a cost. And it’s not always worth it. Mortgage points can be super confusing, which makes it really hard … Read more