Tag: FICO score

FICO Changes That Could Impact Credit Availability

In 1989, the Fair, Isaac, and Company (FICO) established FICO scores. It provided an industry standard for scoring creditworthiness. It was fair for both consumers and lenders. Before FICO, there were many different scores with various calculating methods, sometimes including gender or political affiliation. Changes now are coming to the way FICO is calculated. You…


How to Shop for a Low Mortgage Rate

By Daniel Bortz From Kiplinger’s Personal Finance Looking to purchase a home in this market? Take these steps to qualify for the best mortgage rates. Increase your down payment To qualify for the lowest rates on a conventional loan backed by Fannie Mae or Freddie Mac—the nation’s two largest mortgage buyers—you’ll need a 20 percent…