FICO SCORES DETAILS

The Myth of FICO Scores – Buying a House Is “POSSIBLE”

Thomas Gilliam credit , fico scores , home buying Leave a Comment

What is the first thing people worry about when they are considering buying a home for sale in West Bloomfield, Michigan? The FICO scores. In your eyes, what is the perfect score? 800? 850? When you are saving for the down payment, what is your goal? 15? 20? All these questions have myths attached to them that stop you from buying your dream house. You see, most people don’t have thousands of dollars lying around in their bank account. There are other needs such as energy bills, food, etc, that stop you from making a frivolous purchase. However, a house …

Credit Behaviors – Advice For Potential Farmington Hills Home Buyers

Credit behaviors and credit ratings are generated by three major credit agencies (Experian, Equifax, and Transunion). They all use a differing formulas to generate a numerical rating that reflects your credit risk. The higher the number, the better the credit rating. Certain things may have a adverse effect on your score and could possibly result in you getting turned down for a mortgage. Below are advice for potential Farmington Hills home buyers on credit behaviors that impact the ability to get a loan. Credit Behaviors That Impact The Ability To Get A Loan Tardy Payments Missing payments demonstrate poor credit …