Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
As we step into a new year, it’s the perfect time to focus on understanding and improving your credit score. Whether you’re planning to buy a home, refinance, or simply enhance your financial health, your credit score plays a pivotal role in shaping your opportunities. Let this be the year you clean up your credit… Continue reading Start the New Year with a Clean Slate
Credit inquiries, also known as credit pulls or checks, are a standard part of assessing creditworthiness. However, not all credit inquiries are the same. They fall into two main categories: hard and soft credit inquiries. Understanding the differences between these two types is crucial for managing your credit health and avoiding misconceptions. Below, we explore… Continue reading The Differences Between Hard and Soft Credit Inquiries
Getting a mortgage without a credit score may seem like a tough task, but it is possible. Many assume that a credit score is a must, but if you don’t have one, you can still pursue your dream of homeownership. Here’s how. What is a Credit Score? A credit score is a numerical value that… Continue reading How to Get a Mortgage Without a Credit Score
When you’re looking to buy a home, one of the most important numbers you need to know is your FICO score. This three-digit number represents your creditworthiness and plays a crucial role in determining the terms of your home loan. Let’s discuss what a FICO score is, how it’s calculated, and why it matters for… Continue reading Understanding Your FICO Score: Key to Better Home Loan Rates
Embarking on the journey to homeownership is an exciting milestone, but it also requires careful financial planning. One crucial aspect is managing your debt effectively. I want to ensure you have the tools and knowledge to navigate this process smoothly. Let’s discuss some essential strategies for managing your debt while purchasing a home. Understand Your… Continue reading Managing Your Debt During the Homebuying Process: A Guide for Homebuyers
Building a credit profile from scratch can be a daunting task, especially for those who have no credit history. These individuals, often referred to as having a “thin credit file,” face challenges in securing loans, credit cards, or even mortgages. Interestingly, having no credit at all can sometimes be more problematic than having a poor… Continue reading Preparing for a Mortgage? 5 Ways to Build Credit Without Credit a History
Understanding your credit score and how it impacts your home ownership prospects your credit score is an important part of your financial profile. It has a direct impact on your ability to take out loans.
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.
Shoppers should think twice about is the popular “Open A Charge Card, Save 20%” promotion. The short-term savings may be tempting, but the long-term costs may be huge.
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.