All posts tagged: Credit Score

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The Difference Between FICO Score and Credit Score: How It Affects Your Mortgage and Rates

March 26, 2025 Mortgage Comments Off on The Difference Between FICO Score and Credit Score: How It Affects Your Mortgage and Rates

When applying for a mortgage, your creditworthiness plays a significant role in determining your loan approval and interest rates. Two commonly referenced terms are FICO score and credit score, which are often used interchangeably but have distinct differences.

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What You Can Do Now to Prepare for Mortgage Rate Drops

November 29, 2024 Mortgage Rates Comments Off on What You Can Do Now to Prepare for Mortgage Rate Drops

As we move into the last month of 2024, many potential homebuyers are eagerly awaiting a drop in mortgage rates. With inflation numbers looking promising, there’s hope that the Federal Reserve will lower the federal funds rate, which typically drives mortgage rates down as well. If you’re planning to buy a home or refinance when rates drop, now is the perfect time to start preparing.

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Steps to Take Now to Build Your Credit for a Home Purchase Next Year

October 2, 2024 Credit Scoring Comments Off on Steps to Take Now to Build Your Credit for a Home Purchase Next Year

If you’re thinking about buying a new home next year, there’s one important factor to consider before you start browsing listings–your credit score. A strong credit score can make a huge difference in the interest rates you will qualify for and can also determine your mortgage approval.

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Hard Inquiry vs. Soft Inquiry — What’s the Difference?

July 17, 2024 Credit Scoring Comments Off on Hard Inquiry vs. Soft Inquiry — What’s the Difference?

Most people know that your credit score can drop if you miss a payment or have a new collection filed against you. But how about when you apply for new credit? Yes, a credit application will trigger a “hard inquiry” on your report, which can have an impact on your credit score. Here’s what to know about hard inquiries, and how they compare with “soft inquiries.”

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