Personal Finance » Mortgage

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.

Latest Articles

What Is a Fixed-Rate Mortgage?

Did you know that fixed-rate mortgages are the most popular form of mortgage in...

What Is a Mortgage and How Does It Work?

Many home buyers borrow around 80% of the home’s value through a mortgage, or...

Why Paying Your Mortgage Twice a Month Can Save You Serious Money

Homeowners looking to cut their overall mortgage debt can get the job done by...

What Is an Adjustable-Rate Mortgage?

An adjustable-rate mortgage is a loan used to purchase a home where the interest...

Compromise Sale of Home Will Hurt Credit

I am active duty military and anticipating a permanent change of station this...

How a Transferred Mortgage Account May Impact Credit Scores

My home mortgage was sold by the lender to another bank. My...

What Is a Conventional Loan?

A conventional loan is a mortgage that is not backed by a government agency....

Impact of Missed Payments and Mortgage Modification

I'm considering entering into a six month reduced payment plan with my mortgage...

What Does My Credit Score Need to Be to Get Approved for a Mortgage?

If you want to qualify for an FHA-insured mortgage, sometimes called a conventional mortgage,...

Do you need a credit score to rent a house or apartment?

Having a positive credit report can play a big role in qualifying for an...

What Is a Short Sale?

A short sale is a sale in which a homeowner, or seller, accepts an...

Loan Modification and Credit Scores

How will a loan modification affect my credit scores? I've never been late...

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.