We’ve all seen them, FICO scores on the back of our credit card statements with a history chart and a number for each month. But what are they? What do they mean? Why should I care? Can I improve my credit? Let’s get into it!! FICO SCORE A FICO score is a number that represents to lenders how risky you are to lend to. FICO scores look at payment history,… Read More »Simple ways to improve your credit score.
So the short answer is no, not always. Why not? Mortgages are amortized, which means that the payments are spread out over the length of the loan in equal amounts. Each month, even though the total payment is the same, the amounts towards interest and principal change with each payment. At the beginning of the loan, the interest portion of the payment is at its highest and the remainder of… Read More »Is a lower rate always a good reason to refinance?
When it comes to interest rates most people feel like they are in a foreign country, not knowing what is around the bend. This feeling, this fear, of not achieving the coveted best rate when compared with friends at the water-cooler can oftentimes be the cause of not getting the best rate. If the rate is great today, then it will be better tomorrow right? Not always. In fact, lending… Read More »Take the risk or lose the chance
I’ve never blogged before. OK so this is my third post, but it’s been written as if it was my first. My first blog post was only 2 days ago and I think it went pretty well. Time will tell. I takes a lot of time to put up a website even one as “simple” as this one. There are a lot of hidden details behind the curtain. I am… Read More »And so the adventure begins