When you buy a home, you know that you need a good credit score, will be more likely to seal the deal if you buy in cash, among other things. While having a good financial situation is definitely a perk, it’s not everything you need to appeal to a homeowner selling their home.
In a previous blog, we discussed how your employer can use your credit report, but the myth that they can check your credit score is still pervasive. The reason this myth won’t die is because people still tend to use the terms credit score and credit report interchangeably. We’re here to clear up the difference.
Many people who have gone through the foreclosure process wonder if they will ever able to buy a house again. While a foreclosure can be a big blow to your credit score, you may eventually be able to get another mortgage, but you’ll have to wait. The amount of time you must wait before applying […]
As a home owner or buyer, it’s important for you to understand what the Fair Credit Reporting Act is and how it protects you as a consumer. In doing so, you will know your rights and how to respond to unfair or inaccurate consumer reporting. What is the Fair Credit Reporting Act? The Fair Credit […]
One of the most important factors a lender will consider when reviewing your application for a Kansas City home loan is your FICO ,or credit, score. The two largest influences on your credit score are how you pay your debts and how much debt you owe. How Are FICO Scores Broken Down? Each credit bureau […]
Your credit history is one of the most important factors that lenders consider when you apply for a mortgage in KC. Because of the financial crisis, Millennials are less likely to have a credit card than their parents, thus leading to less credit history. As a result, they are not as likely to build up […]