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Sep 11

Simple Tips To Keep Your FICO High

September 11, 2012 By Leave a Comment
fico-recipe

For today's home buyers and refinancing households, the value of "good credit" has never been higher. Mortgage approvals hinge on your FICO score, as does your final mortgage pricing. If you're shopping for a home in DC , therefore, or contemplating a refinance, be aware of how everyday credit behaviors can affect your FICO. Even small events can make a big impact. Here are some common-sense steps to help improve your credit score. First, keep a "cushion" on your credit cards. 30 … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , , , , , ,
May 01

Mortgage Guidelines Resume Tightening Nationwide

May 1, 2012 By 2 Comments
Mortgage Guidelines Tighten

Despite an improving U.S. economy, the nation's banks remain cautious about what they will lend, and to whom. Last quarter, by a margin of 3-to-2, more banks tightened residential mortgage lending standards for "prime borrowers" than did loosen them. A "prime borrower" is defined as one with a well-documented credit history, high credit scores, and a low debt-to-income ratio. The insight comes from the Federal Reserve's quarterly survey of its member banks. Last quarter, of the 54 … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , , , ,
Nov 09

This Holiday Season, Think Twice Before Saving 15 Percent At The Register

November 9, 2011 By 1 Comment

With Halloween behind us, retailers are in the Holiday Spirit. Businesses know that consumers spent a median $556 on holiday gifts last year and they want this year to be just as strong. That's why it's barely November and, already, Black Friday ads clog our mailboxes and the airwaves. Retailers want our dollars and they're offering great deals to early shoppers. There's one discount a smart shopper should think twice, however -- the ever-present "Open A Charge Card Today And Save 15%" … [Read more...]

Filed Under: Neighborhood News Tagged With: , , , , , ,
Sep 08

After A Pause, Mortgage Guidelines Resume Tightening

September 8, 2011 By 1 Comment
GUIDELINES

Mortgage guidelines appear to be tightening with the nation's largest banks. In its quarterly survey to senior loan officers nationwide, the Federal Reserve uncovered that a small, but growing, portion of its member banks is making mortgage approvals more scarce for "prime" borrowers. A prime borrower is described as one with a well-documented payment history, high credit scores, and a low monthly debt-to-income ratio. Of the 53 responding "big banks", 3 reported that mortgage … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , , , ,
Jun 01

Mortgage Guidelines Start To Loosen At The Country’s Biggest Banks

June 1, 2011 By Leave a Comment

Another quarter, another sign that mortgage lending may be easing nationwide. The Federal Reserve's quarterly survey of senior loan officers revealed that an overwhelming majority of U.S. banks have stopped tightening mortgage requirements for "prime borrowers". A prime borrower is one with a well-documented credit history, high credit scores, and a low debt-to-income ratio. Of the 53 responding "big banks", 49 reported that mortgage guidelines were "basically unchanged" last quarter. … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , ,
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