Financial IQ February 28 2017

Your FICO Score - A Key Piece of the Puzzle

Did you know that FICO Credit Scores are used in making over ten billion credit decisions each year? If you’re thinking of buying or refinancing a home, you probably know that other elements also affect your ability to get approved for a loan, including income and employment history. However, most financial institutions use the Fair Isaac Corporation (FICO) Score to decide whether or not to offer credit or make loans to consumers. FICO’s methods for determining credit scores is a closely guarded secret—but they’ve disclosed five main factors that impact a credit score:

  • Payment history: 35%

  • Amount of debt: 30%

  • Length of credit history: 15%

  • Credit mix: 10%

  • New credit: 10%

Sounds pretty straight-forward, right? It’s a little more complicated than that. The good news is that your FICO credit score is basically just a snapshot in time and there are ways to make it better—through analysis, planning, and guidance.

Eagle Home Mortgage is based on the principle of lowering the barriers to homeownership for Americans—and part of that is boosting your credit score. We’re here to help.  

Are you in need of some zero-cost credit help? Our Home Buyer Solutions Group may be able to help

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Surprising Facts About VA Loans

A VA loan can help eligible veterans purchase the home of their dreams, but they come with a few conditions a buyer should understand.

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October 21 2020

What is an FHA Loan?

For borrowers with tight cash or tricky credit, an FHA loan can be the answer. But not every situation is a good fit for these mortgage loans. Find out if one is right for you.

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October 07 2020

Homebuyer Solutions: Making Dream Homes a Reality

Our Homebuyer Solutions Group helps successfully secure financing for homebuyers with credit challenges.

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September 30 2020

20 Easy Ways to Turn Your House into an Autumn Sanctuary

Here are 20 cozy, simple ways to decorate for fall.

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September 24 2020

Conforming vs. Nonconforming Loans

When financing your new home, there are just a few things you need to know about the types of loans you might be choosing from.

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September 16 2020

Online Closing Options: Closing Faster, Smarter, Safer

Health concerns, purchasing out of state, or other life interruptions can make closing in person difficult — and that’s why we’ve created two new options for borrowers, our Eagle Express Close and Remote Digital Closing Experiences.

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September 02 2020

6 Cheap and Easy Ways to Increase Your Home Value With Curb Appeal

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