The housing market may be impacted by the possibility of a government shutdown. The Wall Street Journal reported on April 7 that Housing and Urban Development Secretary Shaun Donovan told Senate lawmakers that he is “very concerned” that if the government shuts down as a result of lawmakers failing to reach an agreement on a […]
Affordable Financial Services LTD is reminding everyone that April is Credit Scores Education Month. Those who are looking to apply for a mortgage should check their credit score, as the federal government has tightened its lending requirements. Credit Scores Education Month is a month-long campaign sponsored by the Consumer Bankers Foundation and the Leadership Conference […]
In previous blogs, we discussed the impact that credit scores have on obtaining a home loan. More stringent requirements such as higher credit scores, more money for a down payment and other financial factors are making it harder for people to get a mortgage. But one thing that applicants must ask yourselves is this: Have […]
In simple words, credit scores help lenders know what risk they would be taking by loaning money to you and the likelihood of you repaying the loan. Generally, the higher your score, the more money you can borrow, and the lower the cost of borrowing. Credit score usually refers to your FICO score, a number […]