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 [...]
When shopping for a home, good credit is important to obtain the best interest rates and terms. Here are some tips on what not to do and what you should do. DO stay current on your existing accounts – Just one 30-day notice for a late payment could cost you. DO use your credit as [...]
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 your credit score is a little banged up, the loan interest rates you’re offered can be very different from what you see advertised.