Tag Archive for: credit scores

A Comprehensive Guide for Self-Employed Homebuyers: Navigating the Path to Homeownership

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Are you a self-employed individual dreaming of buying a home? Congratulations on taking this exciting step! As a self-employed homebuyer, you may have unique considerations and questions regarding the process. […]Read More

When Debt Is a VERY GOOD Thing! (& Why We Love Tradelines)

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We often have clients who come to us looking for their first home, very proud that they’ve “never had an ounce of debt” in their “entire life.” No credit cards, […]Read More

12 Tips For First-Time Homebuyers

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Many first-time homebuyers are excited about the opportunity to invest in themselves and begin building generational wealth through their home's equity. Here are JVM's best tips for first-time homebuyers, founded on our team's expansive knowledge and experience with helping thousands of homebuyers navigate the mortgage process.Read More

What Credit Score Is Needed To Refinance A House?

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Credit scores play a significant role in determining what mortgage rate you qualify for when refinancing. There is no "one interest rate" that lenders quote each day because of the many factors that affect individual rates. Credit scores can drastically change the rate that lenders are able to quote borrowers for refinances.Read More

5 Key Credit Reminders & Misconceptions; Albert Einstein On Interest Rates!

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Albert Einstein On Predicting Interest Rates (true story) When Einstein died and went to heaven, the doorman told him his room was not ready, and that he had to wait […]Read More

Rapid Re-Scores; We Can’t Charge Borrowers

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RAPID RE-SCORES We often do a “rapid re-score” to repair a borrower’s credit for a variety of reasons: (1) to raise a borrower’s score above a minimum requirement, such as […]Read More

Is 751 A Good Credit Score?

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"What is a good credit score to buy a house?" "Is 715 a good credit score? Credit scores are often at the top of every prospective homebuyer’s mind when they begin their house hunt. Mortgage lenders pull credit scores for homebuyers from three major bureaus: Transunion, Equifax, and Experian. When lenders pull credit, they correlate to the middle of the three scores. If two homebuyers are using a loan, lenders will correlate to the lower-middle score of the two.Read More

5 Key Credit Reminders & Misconceptions

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#1 – Consumer credit scores are not the same as mortgage credit scores. Borrowers often share their credit scores with us, as if those scores are set in stone. Those […]Read More

Why Interest Rate Might Be Higher at Contract Time Than at Pre-Approval Time; Not a “Bait & Switch” :)

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We pre-approved a borrower in August and sent him numerous estimated payment scenarios, based exactly on the interest rates available at that time. When he went into contract in mid-September, […]Read More

Why Perfect Credit Scores Don’t Matter

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200 MILLION AMERICANS NOW HAVE FICO SCORES About 200 million Americans now have FICO Scores, and about 3 million have perfect scores of 850, according to this Bloomberg article:  “How […]Read More

Cracking the Perfect Credit Score? Don’t Bother…

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200 MILLION AMERICANS NOW HAVE FICO SCORES About 200 million Americans now have FICO Scores, and about 3 million have perfect scores of 850, according to this Bloomberg article – […]Read More

Some Rate Reminders for California Borrowers

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Everyone wants to get the best mortgage rate possible when they’re getting ready to take out a loan for their home purchase. Here a few helpful reminders to keep in mind about mortgage rates in CaliforniaRead More

Buyers Don’t Need a ‘Perfect’ Credit Score to Get a Loan in California

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Buyers in don't need a perfect credit score to get a loan in California. Having a high credit score can help buyers secure a loan with a lower interest rate. However, today’s loans have more forgiving guidelines when it comes to a buyer’s credit, which is especially true with government-funded loans.Read More

The New Millennial Housing Market

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Millennial buyers made up 34% of the housing market in 2017. Millennial buyers were the largest group that year in the housing market, with 66% of them being first-time buyers. That means nearly half of all millennial buyers are already in the housing game and have bought and sold more than one property.Read More