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Articles tagged with: Credit Scores

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[20 Nov 2019 | No Comment | 2,729 views]
What is the Average Credit Score for FHA Home Loans?

FHA has a two-tier credit score system for insuring loans. First-tier loans require a minimum down payment of 3.5 percent, while second-tier loans require at least 10 percent. The first tier includes those with FICO scores of 580 or above, while the second tier includes those between 500 and 579. FHA does not insure loans with anything below a 500 credit score.

Rebuilding Credit »

[18 Nov 2019 | No Comment | 2,451 views]
Should You Open a Store Credit Card on Black Friday?

Black Friday has become known for terrific sales to kick off the holiday shopping season. If you visit some stores this Black Friday, a store clerk will likely ask you, “Would you like to save X% by opening a credit card account?”

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[16 Nov 2019 | No Comment | 1,554 views]
The 7 Most Common Myths About Your Credit Score

Your credit score can make a huge difference in your finances, from helping you qualify for loans and low interest rates to accessing utility services and renting the home you want. As much as people want to have good credit scores, there’s a lot of confusion about how they work.

Fico Scores »

[6 Nov 2019 | One Comment | 3,126 views]
How Does a Credit Score Increase or Decrease Each Month?

The majority of credit scores don’t increase or decrease every month, largely because the person is in what is known as “steady state” or equilibrium where their patterns of credit use and payment are balanced over time.

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[3 Nov 2019 | No Comment | 3,376 views]
What Will a Bad Credit Score Cost you?

Having a bad credit score will cost you a lot more than a higher interest rate for a few loans. It extends into many parts of your financial life. So many people fail to understand how important their credit is until they try to buy a home or take out a loan. People with bad credit usually know that they will have to pay higher interest rates. But they often don’t realize how deeply they will really be affected.