Rent can automatically be included in credit scores via a new beta test rolled out by Experian. The company says it improves qualified renters scores by 14 points. COSTA MESA, Calif. – Experian launched a beta release of Experian Boost that allows consumers to contribute qualifying, positive residential rent payments directly to their Experian credit file. The benefit is free to renters who sign up, though their landlord must participate in the program. Based on preliminary analysis, Experian estimates: 66% of consumers will see an instant increase in their FICO Score A FICO Score will improve nearly 10 points, on
Text Version: Concerned that you could be in a bidding war? Use these strategies to increase your odds of getting your offer accepted. 1. Encourage your agent to reach out to the listing agent to find out what the seller is looking for, such as a quick close, an above asking-price offer or a waived contingency. This will help you and your agent craft a competitive offer. 2. Make a cash offer. If you’re not in a position to pay cash, get preapproved for a mortgage and have your preapproval letter in hand. 3. Pay attention to the listing agent’s
Are you looking to save for your first home? Here are some tips!   1. Figure out what you can actually afford. Be realistic and factor in additional expenses! 2. Ask your REALTOR about potential special financing programs. 3. Determine how much you’ll need to save and how long it will take. 4. Create a timeline and budget to get you to your goal. 5. Pay off credit cards and any loans to get a lower mortgage rate. 6. Create a separate home purchase account and set up automatic paycheck transfers into this account. 7. Be creative! Cut back on
By Sept. 5, lenders must update guidelines to make it easier for salaried/hourly workers and self-employed people to qualify for a loan if they lost work during the pandemic. WASHINGTON – On Thursday, the Federal Housing Administration (FHA) announced new flexibility for lenders when qualifying borrowers for an FHA loan, specifically those applicants who had previous employment gaps or a loss of income due to the COVID-19 pandemic. According to updates in Mortgagee Letter 2022-09, salaried and hourly wage-earners, as well as self-employed individuals affected by COVID-19, will have a greater opportunity to purchase a home using FHA-insured mortgage financing,
As of July 10, 2022 – Renters who pay on time can get a home-buying boost even if they have thin credit scores – a big benefit for first-time buyers in underserved communities. PASADENA, Calif. – For years, many renters have struggled to qualify for a loan, simply because their credit files did not have enough established credit. Now, that’s about to change, creating homeownership opportunities for millions of first-time homebuyers – especially in underserved communities. Starting on Sunday, July 10, Freddie Mac will consider on-time rent payments as part of its Loan Product Advisor (LPA) automated loan decisioning system,
Text Version: Take the stress out of your move with these tips from the Professional Movers Association of Florida. 1. Plan your move in advance so you have time to evaluate your options, and make a decision based on overall value (quality low stress move, insurance/valuation to protect your move). 2. Confirm that each mover considered carries commercial general liability insurance, automobile liability, cargo liability and workers’ compensation. This can be verified by a certificate of insurance. 3. Check if the moving company is licensed by Florida Department of Agriculture and Consumer Services by visiting 4. Get a written
Text Version: You’ve found your dream home, your offer is accepted and your closing date is 20 days away. We know your mind is on furnishing your house and buying supplies. And you’re probably a little overwhelmed with all that goes into moving. Don’t jeopardize your chance at a successful closing by making one of these errors. Here’s what NOT to do before closing on your new home: 1. Change jobs 2. Increase debts 3. Apply for new credit 4. Move money without a paper trail 5. Skip a payment or make a late payment for a bill 6. Spend
Survey: 72% of consumers have used a Realtor, but the level of trust varies by generation: 80% of millennials plan to use one but only 71% of Gen Zs say the same. OAKLAND, Calif. – It’s hard to know who to trust, which keeps demand for intermediaries – Realtors®, insurance advisors, etc. – high. However, the first consumer hurdle is to find an intermediary they also trust. A new survey from Agentero, a digital insurance network, looked at public perception of individual intermediaries, including Realtors. Of those who said they’ve already used Realtor, insurance agent or financial services professional, more

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