Tag Archive for: credit scores

The Case For FHA: Lower MI; Good for Low Credit Scores; Fast Closing

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We are making the case for FHA once again now that MI is so much lower (down to 0.85% from 1.35%). FHA interest rates are much lower than conventional rates, […]Read More

Don’t Close Out Credit Accounts or Trade Lines – Hurts Scores

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We had a borrower yesterday who made $600,000 per year and he had almost no consumer debt or late payments…and his credit score was too low to get the Home […]Read More

Do Not Close Out Credit Cards; Just Pay Them Down

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We recently pulled credit for a borrower (a Realtor no less) who had closed out all of his credit cards as part of his effort to clean up his credit […]Read More

Don’t Close Out Credit Cards; Open Accounts = Higher Scores

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We recently pulled credit for a highly responsible borrower who makes great money, has no debt and pays cash for everything. The issue? He closed out all of his credit […]Read More