UtahCreditCoach uses a unique software program we call "Home Sweet Home." The program guides you, step by step through the process, coaching you to reach your credit goals. Once you are enrolled, you are able to log into the system, anytime, anywhere and work towards improving your credit scores. REGISTER HERE FOR A FREE, PRIVATE CONSULTATION!
“What factors determine the interest rate I’ll be offered on my loan?”
If you’ve decided to buy a home or refinance your mortgage, you may be puzzled by the different interest rates you’ve seen advertised for home loans. You’re not alone: Many home buyers and homeowners are confused when they discover they don’t qualify for these rock-bottom interest rates.
The reality is that the interest rate you’ll pay on a loan is determined largely by your own personal situation. Even if you don’t meet the requirements for the best-of-the-best rates that you’ve seen advertised, that doesn’t mean you won’t be able to qualify for a loan or won’t be offered an attractive interest rate that you’ll be able to afford.
The interest rate you’ll be offered will depend on:
The Quality Residential Mortgage (QRM), a proposal by the government to tighten lending standards, has initiated quite a debate. The government feels strongly that standards must be raised while others have debated that the new guidelines are an example of the pendulum swinging back much too far.
For the government’s position on QRM, click here. For the other side of the debate, click here.
We do not want to enter this debate today. Instead, we just want to shed some light on the increased cost a buyer should expect under the new guidelines. The fact that it will cost a purchaser more is not argued by either side. The only question is the extent of the increase.
Credit Card useage rose after a 27 month decline in balances.
Consumers beware the increase in your balances will affect your credit score. Credit Useage accounts for 30% of your credit score. When balances increase so do your monthly payments. This may affect your debt to income ratio when you go to qualify for a home.
If you are in the process of purchasing a home, do not increase your credit card debt. You would be surprised how as little as a $5 charge can affect your score and make the difference between the better interest rate or even qualifying for your loan.
for all your credit needs visit http://www.UtahCreditCoach.com
Want to buy a home or refinance your current mortgage? Think twice about how you shop this holiday season.
OK everyone. Stop what you’re doing and think again. Before you head out for Black Fridays “deals” or cyber Saturday’s online deals make sure you have the cash to purchase everything and a list to stick to. You may ruin your credit score and any loan or refinance you have in the works if you raise your debt ratios or open a store card. That store card and its “10% off” may be the difference between owning your dream home and continuing to rent.
UtahCreditCoach Strikes Again. Absolutely unbelievable, a credit program that helps you work on improving all 5 areas of the fico score factors. A credit coaching program that focus’ on fixing legitimate issues. A credit coaching program that helped a person improve their credit scores +57 points in 38 days.
I don’t know about you; but I think thats very cool and impressive. Results vary based on the persons beginning point and how dedicated they are to improving their situation. This is a hands on program where the enrolled person follows the steps given by the credit simulator (software program). All information is based on Mortgage scores. New scenarios are ran every 90 days and personal coaching by a FICO certified Professional, is provided throughout the whole program.
Its been very nice seeing someone go from the “nope you can’t qualify for a home “ to “congratulations you can now start searching for your new home.”
If you want more details about the coaching system, log on to www.UtahCreditCoach.com you can read through the information and request a free coaching session.
47 point increase in credit score in less than 47 days. It really is amazing what can be accomplished when someone is determined and ready to start working on their credit. UtahCreditCoach helped this person go from dreaming about a home with a payment they could afford to making it a reality. Their concern was qualifying for a better interest rate. They already qualified for FHA and Utah Housing but wanted to see if they could still improve their situation. UtahCreditCoach’s program really does help anyone and everyone.
A system that works on improving all areas that are factored into the credit score. A system that only works on legitimate errors and focus’ on helping educate the consumer. Its a hands on program, with no hidden or monthly fees
