Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and heres how we … Read more
In a Nutshell Compared to lower scores, a good credit score can unlock better credit opportunities. Although credit and loan applications are evaluated by lenders based on a number of criteria, applicants with better credit scores typically have a better chance of being approved. Good credit scores can also help you qualify for lower interest … Read more
Typically, mortgage lenders demand that you include additional funds, known as “impounds” or “escrows,” with your principal and interest payments. ” And sometimes, they owe you an escrow refund. Escrow refunds are a common event, checks that come after a mortgage is refinanced or paid off. Sometimes escrow refund checks can total several thousand dollars. … Read more
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and heres how we … Read more
Unfortunately, most customers are unaware of the true nature of collection accounts and how they affect credit scores. Collection accounts of any dollar amount (even $0) have the potential to cause severe credit score damage. As a collection account finds its way onto a consumer’s credit report, the truth is that it will most likely … Read more
In summary, obtaining a very good or excellent score can lead to access to some of the best deals and prices available. Excellent credit scores typically indicate you have a good chance of being approved for loans and other credit products with favorable terms, though lenders take a number of factors into account when evaluating … Read more
Although you are typically regarded as a subprime consumer if your credit score is 639, this won’t always stop you from taking out loans. As of 2021, the average FICO credit score in the US is 714; scores between 580 and 669 are regarded as “fair” credit scores. This post will explain what your 639 … Read more
When a debt has gone into collections, you’d probably know you’ve run into financial difficulties. Even after you pay off the debt, having collections on your credit report can negatively impact your credit score for a considerable amount of time. Paying off debt is the most pressing issue, though. Successfully disputing inaccurate information is the … Read more
Your spending history is the one thing that lenders always look at when determining your eligibility for a mortgage. From the more obvious factors, such as your income, employment status, credit score, and down payment, to the less obvious factors, such as estimating your future repayment capacity The big question then becomes, “Will my spending … Read more
The mortgage interest deduction is a valuable tax break for homeowners, allowing them to deduct the interest they pay on their mortgage from their taxable income, thus lowering their tax bill However, there are specific requirements and limitations to be aware of, especially considering the changes brought about by the Tax Cuts and Jobs Act … Read more