From a young age, many of us are taught not to take on any debt — that it's best to pay in cash and only spend what you already have. A big issue with the cash-only mindset, though, is that it doesn't help you build your credit. When you reach the point in life where [...]
The better your credit the lower interest rate you're likely to get. Why? In a word—risk. The higher your score the less risk you represent, the more willing a lender is to finance your mortgage. It is that simple. But getting and maintaining a good credit score isn't always so easy. If you're afraid your [...]
What is my FICO score and why is it important? For many people, the first time they will have to deal with their FICO score is when they are applying for a home loan. Most lenders who participate in the FNMA (Fannie Mae) loan program will require a FICO score of at least 620. While [...]
If you’re afraid your score will land you a loan with a higher interest rate, here are things you can do improve your score.