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more on credit

July 30th, 2005

So, are you sick of reading about credit scores yet?  We hope not, and hope that it is helpful to you.  This series will be done before the weekend is over.  Let us know if you find it helpful, and if there is anything you would like to see us cover in the future.

Some misconceptions about credit scores -  'My score determines whether I get credit or not.'  Lenders use a number of factors to ...

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more on FICO

July 27th, 2005


Continuing with our credit scoring lesson.  According to Fair Isaac Corp (FICO),  Each category accounts for approximately 20% of the population, below 620, 620-690, 690-745, 745-780, and above 780.  When a lender receives your score, up to four "score reason codes" are also delivered.  If the lender rejects your request for credit, and your FICO score was part of the reason, these score ...

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more about FICO's

July 22nd, 2005


Sorry - missed yesterday due to connectivity issues.  This week we discussed the makeup of your credit score. Tonight, a tidbit on what does not affect your score.

Lenders look at many things when making a credit decision, including your income, employment history, and the kind of credit you're requesting.  But none of those factors are included in your credit score.  And neither the le ...

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July 19th, 2005

Hi, before I get to the FICO stuff, I want to mention a great experience today.  I want to encourage everyone to get out and voluteer for a cause.  Any cause, especially if you have one dear to your heart.  Today along with my 10 year old son, we volunteered at Back To School Clothing Drive Association.  Every year this wonderful organization collects donations from corporate sponsors and ind ...

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FICO's continued

July 18th, 2005

Hope you had a great weekend.  Here's a little more on credit scoring.  There are basically five factors that determine your FICO score.

1.What is your Payment history?  This is worth approx. 35% of your score.  The most significant impact on your score is whether you have paid past accounts in a timely manner (on or before the date the payment was due).  However, an overall good credit prof ...

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Thanks and FICOs

July 17th, 2005

We had a nice day meeting with potential clients.  Thank you to Dave and Laurie for their hospitality.  We look forward to assisting you with the sale of your house.  We also met some nice folks looking for properties.  We have mentioned in the past how important it is to speak with a lender before looking.  We were discussing that with them today. 

Over the next couple of weeks, we are goi ...

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Pre approvals are key

June 5th, 2005



It's the weekend and every one wants to look for homes.  The most important thing I can say is BE PREPARED!  In this market, many sellers are receiving multiple offers.  The current Arizona Association of Realtors contract requires that a Loan Status Report (LSR) be included with every offer.  That doesn't mean that you have to be loan approved before submitting an offer, but it sure ...


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