Understanding Your Credit Score GPA
If you struggle to understand credit repair and the credit repair process, a good way to break it down is to compare it to a high school GPA – or grade point average. Understanding your credit score is the first step to repairing and rebuilding your credit! Your...![Determining Credit Score and Risk [Video]](https://heartlandcreditrestoration.com/wp-content/uploads/2018/03/couple-signing-mortgage-900x500.jpg)
Determining Credit Score and Risk [Video]
Your credit score is a huge factor when it comes to qualifying for a home loan. For example: Scores under 600 run the risk of not being approved Scores between 600-640 may only be approved for an FHA loan Scores of 680 or above will be accepted at most financial...
The Do’s and Don’ts of Mortgage Pre-Approval
So you’re at the point in the home buying process where your loan officer is ready to pre-approve you. This is a very exciting time in your life! Mortgage pre-approval takes you one step closer to owning the home of your dreams. The first step: you walk into the...![Keeping Open Communication with Bankers & Realtors [VIDEO]](https://heartlandcreditrestoration.com/wp-content/uploads/2018/01/woman-talking-on-phone-communication.jpg)
Keeping Open Communication with Bankers & Realtors [VIDEO]
Here at Heartland Credit Restoration, we are proud of the amount of communication we offer, not just to our customers, but to the bankers and real estate agents our customers are working with as well. Communication on Two Sides As a credit restoration company, on the...
Understanding Escrow in the Home Buying Process
So you’re at the point in the home buying process where you’re getting ready to get pre-approved for your home loan. As you go into the bank, they’re probably going to use some terms that you’re not familiar with at this point. One of these is...
The Cost of (Bad) Credit
Over your lifetime of borrowing, having bad credit could cost you upwards of $300,000. Someone with bad – or even average! – credit will end up paying a significant amount more for Your credit score affects almost everything you do. Having bad credit...
Understanding Private Mortgage Insurance
Private Mortgage Insurance (PMI) is insurance required by the lender to protect the lender. PMI is generally required if you put more than 80% of the price of a home on your mortgage. This happens if you do not have atleast a 20% down payment to put on your new home....
FICO Credit Score Breakdown: Balance-to-Limit Ratio
Balance-to-Limit ratio is the second largest factor in your FICO credit score. It makes up 30% of your score and is calculated by your current balance of credit compared to your limit. Balance-to-Limit Ratio: 30 for 30 The thing to remember when it comes to your...