Too many people think they're stuck renting, but help is out there. Some programs specifically exist to help renters with low to moderate income achieve home ownership. Mortgage Credit Certificate (MCC) The NC Housing Finance Agency lets qualifying home owners claim a tax credit up to $2,000 every year they live in the home. The Mortgage Credit Certificate (MCC) can significantly reduce your federal income liability and leave you with more money to put toward mortgage payments. Typically, it … Continue reading...
How The Latest Version Of FICO Will Score Credit Differently
Did you know that some lenders are already looking at a new credit scoring model called the FICO Score 9? It's still not as widely used, but as it catches on, it might mean the difference between your mortgage denial and your mortgage approval. It could also get you a better rate over the rate you'd get if the lender uses the FICO 8 scoring model. So, as you probably know, credit scores typically range from 300 to 850. They let lenders know how risky it is to lend you money. The principal … Continue reading...