What is a Portfolio Lender & How Does it Work? Portfolio lending refers to financing where the lender keeps the loan on its own books instead of selling the mortgage on the secondary market. This approach allows for more flexible lending standards, making it a viable option for borrowers who might not qualify under traditional loan criteria.
What’s the Difference Between a Mortgage Refinance, a Home Equity Loan, and a HELOC? With interest rates on the rise, but still considerably less than they were for many years, now may be the time to consider rolling some of your high-interest revolving credit card debt, or other loans, into something with a lower interest rate.
What is a Credit Score? A credit score is a three digit number assigned to each consumer by FICO based on credit data collected by credit reporting agencies.
Why is a Credit Score Important? Lenders, landlords, and insurance companies rely on credit scores to determine the likelihood that a consumer will repay a debt responsibly or whether they will be a low risk as a tenant or insured.
How to Improve a Credit Score The first step to increasing your score is understanding your credit report. The three major credit reporting agencies provide one free credit report per year. Due to the pandemic all three credit reporting agencies are offering free credit reports more often than just annually.
