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Mortgage

You have a lot to think about when you’re shopping for a mortgage. Information on your credit report can impact how a potential lender may view your creditworthiness, and it can also influence the loan terms you’re offered.

How Credit Scores Affect Mortgage Rates

People with higher credit scores tend to get lower interest rates on mortgage loans. Alternatively, people with low credit scores may not be approved for loans or may need to pay higher interest rates.

How Your Spouse’s Credit Can Impact Your Mortgage Loan

Lenders usually look at each person’s individual credit report and score when making decisions about mortgage loans. Some lenders use the median when comparing a couple’s score, but it’s worth noting that lenders may decide to decline a loan offering if they deem one score too low. Others may approve the loan, but only at a higher interest rate.

Can You Buy a House with Bad Credit?

September 8, 2016

Dear Experian, I would like to buy my first home. I have been cleaning up and paying down my credit. My score is going up but I still have...

Should You Pay Off Your Mortgage Early?

August 16, 2016

Dear Experian, Is it a good idea to pay off my mortgage early? What affect will that have on my score and how quickly will it go up? – LTD...

Impact of Missing One Mortgage Payment

July 16, 2016

Dear Experian, I admit I was late on one mortgage payment in 30 years, and my credit dropped 52 points. Is that normal for the credit industry, and am I...

Previous Mortgage Still Appearing on Credit Report

December 19, 2015

Dear Experian, We refinanced our home with a different lender and my credit report is showing I have two mortgages. How long will it take for the lender that was...

Mortgage Modification Programs and Your Credit Score

January 31, 2015

Dear Experian, I am beginning a government-sponsored HAMP mortgage modification program. My lowered first three trial mortgage payments will be reported as "partial payments.” After the trial period they will...

Credit Reports Show Mortgage Loans not Home Ownership

August 27, 2014

Dear Experian, I bought a home a few months ago. How do I update my status to homeowner? - TFW

“Statement of Dispute” Delaying Mortgage Refinance

July 17, 2014

Dear Experian, We are refinancing our house. There was an account on my husband’s credit report that he had disputed at the time it was reported. It is still showing...

Late Payments During Mortgage Modification

May 29, 2014

Dear Experian, I have never been late with mortgage except the two months I was working on a mortgage modification with my mortgage company. I was told not to pay...

Fraud Security Alerts Can Slow Mortgage Approval

September 10, 2013

Dear Experian, I recently placed a 90-day fraud security alert on my credit history though Experian. Will that affect my ability to be approved for a mortgage? - ITR

Loan Modification Could Hurt Your Credit Score

July 31, 2013

Dear Experian, I am interested in a modification on my mortgage loan. I would like to modify my repayment When I asked the bank if a modification would negatively impact...

Owner-Financed Mortgage Not on Credit Report

June 6, 2012

Dear Experian, I purchased a home in November 2011. The owner is carrying the note. I would like to get my payment history reported to you. What does he have...

Loan Modification Denied

May 23, 2012

Dear Experian, I recently applied for a loan modification on my mortgage, but they did not qualify my application saying that based on the information I provided they felt that...