800-970-4637
How Does Student Loan Debt Impact Your Ability to Become a Homeowner? This video from GMFS Mortgage helps explains how having student loan debt does not mean you cannot qualify for a mortgage. As with most financing, your debt to…
Concerned About Your Credit Score? This video from GMFS Mortgage helps explains how your credit score is one of the key factors in determining what type of mortgage and interest rate you qualify for. The higher your score, the lower…
What is a FICO score? Back in 1956, an engineer named William Fair and a mathematician named Earl Isaac came up with a formula to calculate the first credit scoring system. This calculation measures a consumer’s credit risk and has…
Protecting your credit score is critical when you’re in the process of buying a new home. Your rate and loan costs could be affected by even a slight change – adding to the list of reasons to protect your credit…
Today, credit is factored into so many decisions. Beyond buying a car or purchasing your home, your credit can influence things like your insurance premiums, interest rates, and even your ability to land the right job. Put simply, your credit…
Order a free copy of your credit report every 12 months through www.AnnualCreditReport.com. Other Credit Related Home Loan Tips: Dispute any errors on your credit report with the credit reporting agencies (Equifax, Experian, and TransUnion) Don’t open any new accounts within…
This video breaks down what impacts your monthly mortgage payment and what is included in the payment. Primary factors that affect your mortgage payment: Size of loan amount Term for repayment (e.g. 30 Years) What is included in your monthly…
This video illustrates how mortgage lenders use your credit score to determine: Do you qualify for a home loan based on your Debt-to-Income ratio? The interest rate you qualify for (lowest interest rates are typically reserved for higher credit scores)…