Improving Your FICO Score May Be Easier Than You Think!

If you’ve been following mortgage news at all, you’ve probably noticed plenty of news on the lower rates. Mortgage rates today are low, but did you know you get your rate even lower? You can do this by boosting your credit score. Your credit score is based on a system. Typically, with higher scores come lower mortgage rates. Government-backed loans, such as the low down-payment FHA loan and the zero-money down USDA loan, allow for below-average scores; but in order to get the best conventional mortgage rates, you’ll want to have the highest credit scores possible. MORTGAGE LENDERS USE FICO SCORING MODEL There are many credit reporting companies. However, in the mortgage world, there are three companies which matter most — Equifax,...

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