3 Tips for Making Your Dream of Owning a Home a Reality Some Highlights: Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without
How Will Rate Shoppping Affect My Credit Score
Looking for a mortgage, auto or student loan may cause multiple lenders to request your credit report, even though you are only looking for one loan. To compensate for this, FICO Scores ignore mortgage, auto, and student loan inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your scores while you're rate shopping. In addition, FICO Scores look on your credit report for mortgage, auto, and student loan inquiries older than 30 days. If your FICO Scores find some, your scores will consider inquiries that fall in a typical shopping period as just one inquiry. For FICO Scores calculated from older versions of the scoring formula, this shopping period is any 21 day span. For FICO Scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO Score.
Latest Blog Posts
5 Ways Tax Reform Has Impacted the 2018 Housing MarketStarting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double
Real Estate Tops Best Investment Poll for 5th Year RunningEvery year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a