FICO score and credit score: What is a FICO score?
FICO score is the type of credit score created by Fair Isaac Corporation (FICO) in 1989. The terms "FICO score" and "credit score" are often used interchangeably, but other score brands exist. Credit card issuers and lenders use credit ratings to determine whether your loan application will be approved. Calculation ...
What Is a Home Lien?
What Is a Home Lien? A home lien is a claim or ownership against property used as collateral to repay the mortgage loan. The lender can seize the apartment subject to the lien if the mortgage obligation is not fulfilled. If you borrowed a home loan, then you have a ...
How Much Mortgage Can I Afford? Here’s All You Need To Know
New to the mortgage industry? Do you have this question in mind, "How much mortgage can I afford?" Well, worry no more! You came to the right place. Purchasing a new house is a major decision that entails a slew of smaller ones. When deciding where to reside, many individuals ...
HELOC: How Does It Affect Your Credit Score?
Homeowners who wish to renovate their homes, subsidize colleges, or pay down bills might consider using their home equity to earn a home equity line of credit. Although HELOC can be a big help when you need to borrow money, it can also put your assets at risk if you ...
Cash-out Refinancing Vs. Home Equity Loans: All You Need To Know
Cash-out Refinancing Vs. Home Equity Loans - It lets you use your property as collateral to borrow cash. Finding out which option is suitable—may depend on your current mortgage, home value, lender's offer, and creditworthiness. What is Cash-out Refinancing, and How Does it Work? Cash-out refinancing is a home loan ...
