Archive for the 'Credit' Category

Homebuilder Confidence Rises Again; Tops 40 Home builder confidence continues to make new highs.  As reported by the National Association of Home Builders, the Housing Market Index, a measure of builder confidence, rose to a reading of 40 in September — its highest mark since June 2006. The index is now higher through five straight […]

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No Comments downpaymentadmin on Sep 20th 2012

As of April 1st 2012 HUD has announced in the Mortgagee Letter 2012-3 how it will be handling disputed accounts and public records.  In the past when loan application and got a approval with the FHA total scorecard with collections or public records it was up to the DE underwritter to determine if those items […]

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No Comments downpaymentadmin on Apr 10th 2012

When determining your credit score there is five key components. 1.Payment History– Paying your credit cards or revolving accounts and installment loans like car payments and student loans on time is important. They will report favorably to your credit as long as you pay your bill before it is 30 days late. If you make […]

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No Comments downpaymentadmin on Dec 12th 2011

Filed under Credit

FICO Scores

For many first time homebuyer; understanding how their credit score benefits them is foriegn. Your credit scores come from payment history from credit cards, installment loans from banks and mortgages. Your score is also impacted by information that is obtained from court records such as bankruptcy , judgements and tax liens that are attached to […]

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No Comments downpaymentadmin on Nov 23rd 2011

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