ALBUQUERQUE AREA NEW MEXICO HOME LOANS AND CREDIT SCORES
ALBUQUERQUE AREA NEW MEXICO HOME LOANS AND CREDIT SCORES
SAVE
MONEY ON NEW MEXICO REAL ESTATE BY PRE-QUALIFYING ON LINE!.
WHAT ARE THE RATES?
Credit scores are the three-digit numbers, typically ranging from
300 to 850 that are used by lenders to determine creditworthiness
and set the interest rates paid by you!
The so called “FICO” scores are based on 5 categories and are weighted:
Types of credit in use 10%
New credit in use 10%
Length of credit history 15%
Amounts owed 30%
Payment history 35%
Typically ranging from 500-800
Half of consumers score 730 or higher.
Example of use:
720-850 range could be a loan 30 years at 6.5%
620-674 range could be 8.5% for the same loan
500-559 range could be 11.1%
Our Money Team will run the report for free and confidential.
You will know what you can get!
The way to get the best rate is to work with a mortgage company and loan officer that are where the home is and that offers you all the loan choices and an honest loan officer that really understands what your options are. Your loan officer will ask you the right questions to help you determine the best loan for your needsthat gives you the lowest rate and most home for the payment. Then, once the loan officer has discovered when you need to close on the loan, he can watch the economic indicator forcasts to help you "lock" your loan at the best time for the lowest rate on that loan.
CLICK HERE for more information about LOWER
INTEREST ALTERNATIVES.
NEW
MEXICO LOANS FRONT PAGE
NEW
MEXICO INFORMATION PAGE
PICTURE
TOURS FOR HOMES
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