Due to recent changes in federal regulations, consumers are now allowed to freeze their credit free of charge. Prior to changes in these regulations, credit bureaus would charge consumers for freezing their credit. What does this mean, and why might someone want to do this?
Borrowers with high credit scores get access to lower mortgage rates and can find the mortgage approval process to be more smooth than borrowers with low credit scores.
The company behind the popular FICO scoring model has published a "What If?" series for common, specific credit missteps.
Mortgage approvals are primarily based on good income, good equity and strong credit, and, without all three, the best rates of the day remain out of reach. Do something about your credit score.
Credit scores not only make the difference between a mortgage approval and mortgage turn-down, but they also play a large role in determining your actual mortgage note rate. In the 3-minute piece, the NBC Today Show talks about 7 ways that homebuyers ruin their credit -- often by accident.