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5 days of Credit Scoring Tips - Day 3

What makes up a credit score?

35% Payment history
30% Amounts owed
15% Length of credit
10% New credit (past 12 to 18 months, looking at number of inquiries and opening dates on accounts)
10% Credit mix Percentage of installment debt, percentage of revolving debt (installments can raise scores/revolving can decrease) and loans from finance companies (the more finance loans lowers the score)

#credittips #creditrepair #credithomeloans

โ—๐Ÿก ๐—ก๐—ฒ๐˜„ ๐—ฐ๐—ผ๐—ป๐—ณ๐—ผ๐—ฟ๐—บ๐—ถ๐—ป๐—ด ๐—น๐—ผ๐—ฎ๐—ป ๐—น๐—ถ๐—บ๐—ถ๐˜๐˜€ ๐—ณ๐—ผ๐—ฟ ๐—™๐—ฎ๐—ป๐—ป๐—ถ๐—ฒ ๐— ๐—ฎ๐—ฒ ๐—ฎ๐—ป๐—ฑ ๐—™๐—ฟ๐—ฒ๐—ฑ๐—ฑ๐—ถ๐—ฒ ๐— ๐—ฎ๐—ฐ ๐—บ๐—ฎ๐˜† ๐—ต๐—ฒ๐—น๐—ฝ ๐˜†๐—ผ๐˜‚ ๐—พ๐˜‚๐—ฎ๐—น๐—ถ๐—ณ๐˜† ๐—ณ๐—ผ๐—ฟ ๐—บ๐—ผ๐—ฟ๐—ฒ ๐—ต๐—ผ๐—บ๐—ฒ! ๐Ÿ˜€

Today's news means you may be able to qualify for ๐—บ๐—ผ๐—ฟ๐—ฒ ๐—ต๐—ผ๐—บ๐—ฒ ๐—ฎ๐˜ ๐—ฎ ๐—น๐—ผ๐˜„๐—ฒ๐—ฟ ๐—ฟ๐—ฎ๐˜๐—ฒ, because a "conforming" loan often has a better rate than a "jumbo" loan that you would normally need for higher mortgage amounts.

The conforming loan amount is going from $647,200 to $726,200 in 2023. Some areas of the country qualify for even higher limits, sometimes as high as $1,089,300!

๐Ÿ‘‰ ๐—œ๐—ณ ๐˜†๐—ผ๐˜‚'๐—ฑ ๐—น๐—ถ๐—ธ๐—ฒ ๐˜๐—ผ ๐—ธ๐—ป๐—ผ๐˜„ ๐—ต๐—ผ๐˜„ ๐˜๐—ต๐—ฎ๐˜ ๐—ฎ๐—ณ๐—ณ๐—ฒ๐—ฐ๐˜๐˜€ ๐˜†๐—ผ๐˜‚, ๐—น๐—ฒ๐˜ ๐—บ๐—ฒ ๐—ธ๐—ป๐—ผ๐˜„ ๐—ฎ๐—ป๐—ฑ ๐—œ'๐—น๐—น ๐—ฏ๐—ฒ ๐—ด๐—น๐—ฎ๐—ฑ ๐˜๐—ผ ๐—ด๐—ผ ๐—ผ๐˜ƒ๐—ฒ๐—ฟ ๐—ถ๐˜ ๐˜„๐—ถ๐˜๐—ต ๐˜†๐—ผ๐˜‚.

๐—ฅ๐—ฒ๐—บ๐—ฒ๐—บ๐—ฏ๐—ฒ๐—ฟ, ๐—ถ๐—ณ ๐˜†๐—ผ๐˜‚'๐—ฟ๐—ฒ ๐˜๐—ต๐—ถ๐—ป๐—ธ๐—ถ๐—ป๐—ด ๐—ผ๐—ณ ๐—ฏ๐˜‚๐˜†๐—ถ๐—ป๐—ด ๐—ฎ ๐—ต๐—ผ๐—บ๐—ฒ ๐—ผ๐—ฟ ๐—ฟ๐—ฒ๐—ณ๐—ถ๐—ป๐—ฎ๐—ป๐—ฐ๐—ถ๐—ป๐—ด, ๐—œ'๐—บ ๐—ต๐—ฒ๐—ฟ๐—ฒ ๐˜๐—ผ ๐—ต๐—ฒ๐—น๐—ฝ.
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โ—๐Ÿก ๐—ก๐—ฒ๐˜„ ๐—ฐ๐—ผ๐—ป๐—ณ๐—ผ๐—ฟ๐—บ๐—ถ๐—ป๐—ด ๐—น๐—ผ๐—ฎ๐—ป ๐—น๐—ถ๐—บ๐—ถ๐˜๐˜€ ๐—ณ๐—ผ๐—ฟ ๐—™๐—ฎ๐—ป๐—ป๐—ถ๐—ฒ ๐— ๐—ฎ๐—ฒ ๐—ฎ๐—ป๐—ฑ ๐—™๐—ฟ๐—ฒ๐—ฑ๐—ฑ๐—ถ๐—ฒ ๐— ๐—ฎ๐—ฐ ๐—บ๐—ฎ๐˜† ๐—ต๐—ฒ๐—น๐—ฝ ๐˜†๐—ผ๐˜‚ ๐—พ๐˜‚๐—ฎ๐—น๐—ถ๐—ณ๐˜† ๐—ณ๐—ผ๐—ฟ ๐—บ๐—ผ๐—ฟ๐—ฒ ๐—ต๐—ผ๐—บ๐—ฒ! ๐Ÿ˜€

Todays news means you may be able to qualify for ๐—บ๐—ผ๐—ฟ๐—ฒ ๐—ต๐—ผ๐—บ๐—ฒ ๐—ฎ๐˜ ๐—ฎ ๐—น๐—ผ๐˜„๐—ฒ๐—ฟ ๐—ฟ๐—ฎ๐˜๐—ฒ, because a conforming loan often has a better rate than a jumbo loan that you would normally need for higher mortgage amounts.

The conforming loan amount is going from $647,200 to $726,200 in 2023. Some areas of the country qualify for even higher limits, sometimes as high as $1,089,300!

๐Ÿ‘‰  ๐—œ๐—ณ ๐˜†๐—ผ๐˜‚๐—ฑ ๐—น๐—ถ๐—ธ๐—ฒ ๐˜๐—ผ ๐—ธ๐—ป๐—ผ๐˜„ ๐—ต๐—ผ๐˜„ ๐˜๐—ต๐—ฎ๐˜ ๐—ฎ๐—ณ๐—ณ๐—ฒ๐—ฐ๐˜๐˜€ ๐˜†๐—ผ๐˜‚, ๐—น๐—ฒ๐˜ ๐—บ๐—ฒ ๐—ธ๐—ป๐—ผ๐˜„ ๐—ฎ๐—ป๐—ฑ ๐—œ๐—น๐—น ๐—ฏ๐—ฒ ๐—ด๐—น๐—ฎ๐—ฑ ๐˜๐—ผ ๐—ด๐—ผ ๐—ผ๐˜ƒ๐—ฒ๐—ฟ ๐—ถ๐˜ ๐˜„๐—ถ๐˜๐—ต ๐˜†๐—ผ๐˜‚.

๐—ฅ๐—ฒ๐—บ๐—ฒ๐—บ๐—ฏ๐—ฒ๐—ฟ, ๐—ถ๐—ณ ๐˜†๐—ผ๐˜‚๐—ฟ๐—ฒ ๐˜๐—ต๐—ถ๐—ป๐—ธ๐—ถ๐—ป๐—ด ๐—ผ๐—ณ ๐—ฏ๐˜‚๐˜†๐—ถ๐—ป๐—ด ๐—ฎ ๐—ต๐—ผ๐—บ๐—ฒ ๐—ผ๐—ฟ ๐—ฟ๐—ฒ๐—ณ๐—ถ๐—ป๐—ฎ๐—ป๐—ฐ๐—ถ๐—ป๐—ด, ๐—œ๐—บ ๐—ต๐—ฒ๐—ฟ๐—ฒ ๐˜๐—ผ ๐—ต๐—ฒ๐—น๐—ฝ.
5 days of Credit Scoring Tips - Day 2

Factors considered for a persons credit score are the types of credit they have, how much new credit they have, the length of their credit history, the amount they owe, and their payment history. By far, the amount they owe and payment history are the biggest factors.

Companies must always be mindful that what they report about a persons credit will impact their credit score. In turn, this affects their ability to obtain credit financing, which affects their daily life.

๐Ÿก ๐—™๐—ผ๐—ฟ ๐˜๐—ต๐—ฒ ๐˜„๐—ฒ๐—ฒ๐—ธ ๐—ผ๐—ณ ๐—ก๐—ผ๐˜ƒ๐—ฒ๐—บ๐—ฏ๐—ฒ๐—ฟ ๐Ÿฎ๐Ÿด, ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฎ

๐—ฅ๐—ฒ๐—ฐ๐—ฎ๐—ฝ ๐—ผ๐—ณ ๐—น๐—ฎ๐˜€๐˜ ๐˜„๐—ฒ๐—ฒ๐—ธ: ๐—ฅ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜„๐—ฒ๐—ฟ๐—ฒ ๐˜‚๐—ป๐—ฐ๐—ต๐—ฎ๐—ป๐—ด๐—ฒ๐—ฑ ๐Ÿ‘
With traders taking the second half of the week off, average mortgage rates ended last week's holiday shortened week at basically the same level as the previous week.

๐— ๐—ผ๐—ฟ๐˜๐—ด๐—ฎ๐—ด๐—ฒ ๐—ฅ๐—ฎ๐˜๐—ฒ ๐—™๐—ผ๐—ฟ๐—ฒ๐—ฐ๐—ฎ๐˜€๐˜: ๐—ฅ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜€๐—ต๐—ผ๐˜‚๐—น๐—ฑ ๐—ฟ๐—ฒ๐—บ๐—ฎ๐—ถ๐—ป ๐—น๐—ผ๐˜„ ๐—ฏ๐˜‚๐˜ ๐—ฐ๐—ผ๐˜‚๐—น๐—ฑ ๐˜€๐—ฒ๐—ฒ ๐˜ƒ๐—ผ๐—น๐—ฎ๐˜๐—ถ๐—น๐—ถ๐˜๐˜† ๐Ÿ‘
There are two economic reports this week that could affect mortgage rates, the PCE inflation report and jobs data. It isn't too likely that we will get any surprises on the reports that could push rates significantly higher or lower, but we could see some smaller movement. The overall outlook though is still good for rates, and that rates should remain stable heading into next month's Fed meeting.

๐Ÿ—“๏ธ ๐—ช๐—ต๐—ฎ๐˜'๐˜€ ๐—ฎ๐—ณ๐—ณ๐—ฒ๐—ฐ๐˜๐—ถ๐—ป๐—ด ๐—ฟ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜๐—ต๐—ถ๐˜€ ๐˜„๐—ฒ๐—ฒ๐—ธ:
- Economic data: On Thursday we will get the Fed's favorite gauge of inflation, the PCE inflation report. If it shows inflation is decreasing, like we saw with the CPI inflation report a couple of weeks ago, it could help mortgage rates remain at these levels or move slightly lower. On Friday we will get jobs data, and a strong report could pressure rates, while a weaker report could help mortgage rates.
- The Fed: Fed Chair Jerome Powell is speaking on Wednesday, and is expected to confirm a slower pace of future Fed rate hikes, which is good for rates.

#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance
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๐Ÿก ๐—™๐—ผ๐—ฟ ๐˜๐—ต๐—ฒ ๐˜„๐—ฒ๐—ฒ๐—ธ ๐—ผ๐—ณ ๐—ก๐—ผ๐˜ƒ๐—ฒ๐—บ๐—ฏ๐—ฒ๐—ฟ ๐Ÿฎ๐Ÿด, ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฎ

๐—ฅ๐—ฒ๐—ฐ๐—ฎ๐—ฝ ๐—ผ๐—ณ ๐—น๐—ฎ๐˜€๐˜ ๐˜„๐—ฒ๐—ฒ๐—ธ: ๐—ฅ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜„๐—ฒ๐—ฟ๐—ฒ ๐˜‚๐—ป๐—ฐ๐—ต๐—ฎ๐—ป๐—ด๐—ฒ๐—ฑ ๐Ÿ‘ 
With traders taking the second half of the week off, average mortgage rates ended last weeks holiday shortened week at basically the same level as the previous week.

๐— ๐—ผ๐—ฟ๐˜๐—ด๐—ฎ๐—ด๐—ฒ ๐—ฅ๐—ฎ๐˜๐—ฒ ๐—™๐—ผ๐—ฟ๐—ฒ๐—ฐ๐—ฎ๐˜€๐˜: ๐—ฅ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜€๐—ต๐—ผ๐˜‚๐—น๐—ฑ ๐—ฟ๐—ฒ๐—บ๐—ฎ๐—ถ๐—ป ๐—น๐—ผ๐˜„ ๐—ฏ๐˜‚๐˜ ๐—ฐ๐—ผ๐˜‚๐—น๐—ฑ ๐˜€๐—ฒ๐—ฒ ๐˜ƒ๐—ผ๐—น๐—ฎ๐˜๐—ถ๐—น๐—ถ๐˜๐˜† ๐Ÿ‘ 
There are two economic reports this week that could affect mortgage rates, the PCE inflation report and jobs data. It isnt too likely that we will get any surprises on the reports that could push rates significantly higher or lower, but we could see some smaller movement. The overall outlook though is still good for rates, and that rates should remain stable heading into next months Fed meeting.

๐Ÿ—“๏ธ  ๐—ช๐—ต๐—ฎ๐˜๐˜€ ๐—ฎ๐—ณ๐—ณ๐—ฒ๐—ฐ๐˜๐—ถ๐—ป๐—ด ๐—ฟ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜๐—ต๐—ถ๐˜€ ๐˜„๐—ฒ๐—ฒ๐—ธ:
- Economic data: On Thursday we will get the Feds favorite gauge of inflation, the PCE inflation report. If it shows inflation is decreasing, like we saw with the CPI inflation report a couple of weeks ago, it could help mortgage rates remain at these levels or move slightly lower. On Friday we will get jobs data, and a strong report could pressure rates, while a weaker report could help mortgage rates.
- The Fed: Fed Chair Jerome Powell is speaking on Wednesday, and is expected to confirm a slower pace of future Fed rate hikes, which is good for rates.

#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance
5 days of Credit Scoring Tips - Day 1

Credit scores range from approximately 300 to 850 points; the higher the score the lower the risk of default. The score measures the relative degree of risk a potential borrower represents to the lender or investor for repayment of a debt. The score is calculated by the repository software being utilized to create a credit report and is based solely on the positive and negative data in that individuals file at the repository. The repository scorecards use up to 40 different variables to determine the risk score given to a consumer. The score is based on all the credit-related data in the reportโ€”not just negative.

#Icanhelpyou #creditscore #creditrepair
New 5.0-star Review:
Happy Thanksgiving from our Monroe Norcom Branch to you and your family! You have all made a difference in our lives and we cannot thank you enough!
Theres nothing we cant handle here at Norcom Monroe branch! Greg had some hiccups w/the property needing some work, He almost gave up on this dream BUT Audra Santos & team quickly went into Action-Got him into a VA Rehab loan, worked closely w/a licensed contractor of his choice & STILL met his desired closing date! Right before the Holidays, We couldnt be happier to see this all the way through! ๐Ÿคฉ#WeMakeHomesHappen Valerie DaCosta

๐Ÿก ๐—™๐—ผ๐—ฟ ๐˜๐—ต๐—ฒ ๐˜„๐—ฒ๐—ฒ๐—ธ ๐—ผ๐—ณ ๐—ก๐—ผ๐˜ƒ๐—ฒ๐—บ๐—ฏ๐—ฒ๐—ฟ ๐Ÿฎ๐Ÿญ, ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฎ

๐—ฅ๐—ฒ๐—ฐ๐—ฎ๐—ฝ ๐—ผ๐—ณ ๐—น๐—ฎ๐˜€๐˜ ๐˜„๐—ฒ๐—ฒ๐—ธ: ๐—ฅ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜„๐—ฒ๐—ฟ๐—ฒ ๐˜‚๐—ป๐—ฐ๐—ต๐—ฎ๐—ป๐—ด๐—ฒ๐—ฑ ๐Ÿ‘
After dropping significantly the previous week, average mortgage rates last week were basically unchanged, and moved very little day to day despite economic and job data that showed the economy remains resilient and is not yet slowing down. Often strong data like we saw would have turned into slightly higher mortgage rates, but didn't this time.

๐— ๐—ผ๐—ฟ๐˜๐—ด๐—ฎ๐—ด๐—ฒ ๐—ฅ๐—ฎ๐˜๐—ฒ ๐—™๐—ผ๐—ฟ๐—ฒ๐—ฐ๐—ฎ๐˜€๐˜: ๐—ฅ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜€๐—ต๐—ผ๐˜‚๐—น๐—ฑ ๐—ฟ๐—ฒ๐—บ๐—ฎ๐—ถ๐—ป ๐—ป๐—ฒ๐—ฎ๐—ฟ ๐˜๐—ต๐—ฒ๐˜€๐—ฒ ๐—น๐—ฒ๐˜ƒ๐—ฒ๐—น๐˜€ ๐Ÿ‘
This week, mortgage rates are likely to remain at or near the current levels through the holiday shortened week, with very little going on in the markets to cause much concern.

๐Ÿ—“๏ธ ๐—ช๐—ต๐—ฎ๐˜'๐˜€ ๐—ฎ๐—ณ๐—ณ๐—ฒ๐—ฐ๐˜๐—ถ๐—ป๐—ด ๐—ฟ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜๐—ต๐—ถ๐˜€ ๐˜„๐—ฒ๐—ฒ๐—ธ:
- Economic data: The only day that we have any significant economic data is Wednesday, but rates shouldn't be largely affected.
- The Fed: Mortgage rates are reacting to the speculation of when and how much the Fed will hike policy rates to end 2022 and into the meetings in 2023. The minutes from last month's Fed meeting come out on Wednesday, but aren't expected to cause any surprises for rates.
- Thanksgiving: Markets will be closed Thursday and will close early on Friday. Most lenders will do the same, and rates are not likely to move between Wednesday and the following Monday.

#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance
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๐Ÿก  ๐—™๐—ผ๐—ฟ ๐˜๐—ต๐—ฒ ๐˜„๐—ฒ๐—ฒ๐—ธ ๐—ผ๐—ณ ๐—ก๐—ผ๐˜ƒ๐—ฒ๐—บ๐—ฏ๐—ฒ๐—ฟ ๐Ÿฎ๐Ÿญ, ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฎ

๐—ฅ๐—ฒ๐—ฐ๐—ฎ๐—ฝ ๐—ผ๐—ณ ๐—น๐—ฎ๐˜€๐˜ ๐˜„๐—ฒ๐—ฒ๐—ธ: ๐—ฅ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜„๐—ฒ๐—ฟ๐—ฒ ๐˜‚๐—ป๐—ฐ๐—ต๐—ฎ๐—ป๐—ด๐—ฒ๐—ฑ ๐Ÿ‘ 
After dropping significantly the previous week, average mortgage rates last week were basically unchanged, and moved very little day to day despite economic and job data that showed the economy remains resilient and is not yet slowing down. Often strong data like we saw would have turned into slightly higher mortgage rates, but didnt this time.

๐— ๐—ผ๐—ฟ๐˜๐—ด๐—ฎ๐—ด๐—ฒ ๐—ฅ๐—ฎ๐˜๐—ฒ ๐—™๐—ผ๐—ฟ๐—ฒ๐—ฐ๐—ฎ๐˜€๐˜: ๐—ฅ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜€๐—ต๐—ผ๐˜‚๐—น๐—ฑ ๐—ฟ๐—ฒ๐—บ๐—ฎ๐—ถ๐—ป ๐—ป๐—ฒ๐—ฎ๐—ฟ ๐˜๐—ต๐—ฒ๐˜€๐—ฒ ๐—น๐—ฒ๐˜ƒ๐—ฒ๐—น๐˜€  ๐Ÿ‘
This week, mortgage rates are likely to remain at or near the current levels through the holiday shortened week, with very little going on in the markets to cause much concern.

๐Ÿ—“๏ธ ๐—ช๐—ต๐—ฎ๐˜๐˜€ ๐—ฎ๐—ณ๐—ณ๐—ฒ๐—ฐ๐˜๐—ถ๐—ป๐—ด ๐—ฟ๐—ฎ๐˜๐—ฒ๐˜€ ๐˜๐—ต๐—ถ๐˜€ ๐˜„๐—ฒ๐—ฒ๐—ธ:
- Economic data: The only day that we have any significant economic data is Wednesday, but rates shouldnt be largely affected.
- The Fed: Mortgage rates are reacting to the speculation of when and how much the Fed will hike policy rates to end 2022 and into the meetings in 2023. The minutes from last months Fed meeting come out on Wednesday, but arent expected to cause any surprises for rates.
- Thanksgiving: Markets will be closed Thursday and will close early on Friday. Most lenders will do the same, and rates are not likely to move between Wednesday and the following Monday.

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