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Credit Improvement

The Ultimate Home Buyer Guide to Credit Improvement

The Ultimate Home Buyers Guide to Credit Improvement and Preservation

Not Now.  Not No! Credit improvement is not something you should spend money on if you are trying to apply for a mortgage. Lenders that are not willing to take the time to work with credit challenged buyers will often leave you with an answer of “NO” without a great explanation of why, or how…

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Trended Credit Data – Fannie Mae DU 10.0

Fannie Mae DU 10 Trended Credit Data

Credit Qualifying Over the weekend of September 24th, 2016, Fannie Mae is updating DU to Version 10.0, and introducing a new approach to credit qualifying by analyzing trended credit data. It is not unusual for Fannie Mae to release updates throughout the year for both Conventional, and Government loans (FHA and VA). DU Version 10.0 update is…

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How Do I Get A Loan Approval? Credit,Capacity,Collateral

Home Loan Qualifying Essentials

Education Reduces Risk Whether you are getting ready to purchase a new home or are looking to refinance your existing home, the process of obtaining financing for your home mortgage needs can seem overwhelming. There are many stories on how obtaining home financing has become much more difficult for borrowers and how lenders have become…

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Credit Report Errors Prevent Purchase After Short Sale

Credit Reporting Errors Prevent Buying after Short Sale

Errors On Your Credit Report Could Cost You Thousands The credit monitoring companies aren’t lying when they make this claim. Boomerang home buyers are pouring back into the housing market only 2 years after a short sale or deed in lieu of foreclosure, only to be met with frustration and confusion by inexperienced lenders turning…

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How Much is Your Credit Score Costing You?

how good credit scores save you money

The Reason for Your Score I’ve seen it time and time again, homebuyers and homeowners losing hundreds, and thousands of dollars because of inaccurate credit reporting. With a little education, ethical guidance, and patience, most borrowers have an opportunity to either borrow more, or get a lower rate on the loan that you’re applying for. My…

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How to Credit Qualify for a Home Loan

Credit Qualifying Basics

Credit Qualifying Basics You have to be brilliant at the basics, and that’s never more true than when you’re trying to get into a position to credit qualify for a California home loan. When talking about credit qualifying, we will focus first on your credit score, and the most common reasons for bad credit. In my experience,…

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How Credit Score and Loan to Value Affect Interest Rate

LLPA Affects Interest Rates

Biggest Influence Your interest rate will be directly affected by your credit score, and your equity. While there are other factors that can influence your interest rate, including property type (condo), or loan purpose (investment), that can greatly impact your costs, the combination of your credit score and your equity is by far the biggest…

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An Insider’s Guide to Credit Preservation

an insiders guide to credit preservation

Take Control of Your Scores Your credit scores play a huge role in your ability to qualify for a home loan.  In many cases, your credit scores can also have a direct impact on your closing costs. As a direct lender of home loan mortgages in California, we spend a lot of time coaching homebuyers…

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How Are Credit Scores Calculated?

Credit Scores

Your credit score, also called a Fair Isaac (FICO) can be generated for anyone with at least one credit trade line reported and updated within the last 12 months. The actual formula for calculating a FICO score is proprietary, but there are some general guidelines and rules that we know about how to improve, and…

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How to Improve Your Credit After a Bankruptcy

Repair Credit after Bankruptcy

Bankruptcy is just about the best thing you to do repair poor credit.  After a BK, you have the opportunity for fresh start, starting point with your past behind you.  However, simply filing for Bankruptcy will not improve your credit. This past week I’ve had 3 conversations with different people that went through the bankruptcy…

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