Blog Archives

Foundations of the Mortgage Industry

Foundations of the Mortgage Industry

Understanding the foundations of the mortgage industry can be very helpful when venturing into for the first time.  Even if you have some experience with getting financed for a home, knowing and understanding these foundations can give you an upper hand when shopping for the best deal.  Let’s get started.  The fact is that 93% of homes in America are financed through either the private sector or government sector.  The breakdowns of these sectors are below. Read the rest of this entry

How Is My Credit Score Calculated?

How Is My Credit Score Calculated?

Understanding how your credit score is calculated is critical when trying to build your credit.  There are several different factors that make up your credit score.  These factors are grouped into five different categories; all of which are weighted by different percentages.  Knowing this information can help anyone who wants to build their credit as fast as possible. Read the rest of this entry

What Is Your Credit All About? – Part II

What Is Your Credit All About? – Part II

 Last week we discussed the importance of having a good credit score.  This week I am going to discuss something that a lot of people don’t consider that also affects your credit sore and that is something called inquiries.  Every time you allow someone to pull your credit report, you are adding another inquiry to your report.  These inquires remain for 120 days and can have negative implications.  Read the rest of this entry

What Is Your Credit All About?

What Is Your Credit All About?

Understanding how your credit works is vital in today’s world.  Nowadays, it seems that your credit matters more than how much cash you have in the bank.  So here is a summary of what it’s all about.  The three big credit agencies are Experian, Equifax, and TransUnion, also known as repositories.  Each agency uses a scoring system from the information reported to them about consumers.  TransUnion’s uses what is called a Vantage Score, while Experian and Equifax is FICO or Beacon.  Within these agencies there are three types of credit reports that can be pulled.  Read the rest of this entry

What is a USDA Loan?

What Is A USDA Loan? USDA Loans offer affordable 30 year terms with 100% financing. That means no money down!
No Money Down: For starters, a USDA loan is one of the only loan programs offered that allows you to finance 100% the purchase price. That means no down payment of any kind! Read the rest of this entry