Don’t let your home become a money pit

When one thinks of Credit Scores and home-ownership, one thinks – of course – about mortgages. However, things like kitchen remodels, room additions, new roofs and security systems might cost less with a good Credit Score, too. Then, once you spruce up the place, proper maintenance keeps it looking good and costing less.

  • Yes! Credit Matters: Choosing the Right Mortgage

    Deciding between a Fixed Rate Mortgage or an Adjustable Rate Mortgage (ARM)? Which mortgage is better for you depends on your credit situation and your future plans with the property. The ARM interest rate is made up of “the index” and “the margin” (the profit fee charged by the lender). A good Credit Score lowers the margin significantly, saving you thousands or tens of thousands of dollars.

  • Yes! Credit Matters: Home Improvement

    With the money you save on your home loan thanks to a good credit score, you’re able to consolidate debt under one low interest rate, or pay for home repairs and home improvement, which could potentially increase your home’s market value.

Score Planner

See how different events might impact your Credit Score. The Score Planner is available to both members and non-members.

Types of questions you'll see:

  • icon-credit-card.pngWhat if I pay off that card?
  • icon-apply-car-loan.pngWhat if I apply for a loan?
  • icon-late-payment.pngWhat if I have a late payment?
Go see the Score Planner

Question: Can I use my 401k as a down payment?

Answer: One of the most common reasons people borrow from their 401k is to get money for a down payment on a new home. This can be a great idea for people who won’t be ready to retire for many years—especially since you’re basically taking a low-interest loan from yourself. Keep in mind though that borrowing from your 401k may not be the best idea if you're likely to leave your job soon.

Taking good care of your credit can help you get the things you want. Get started now!

Get My Score

Making Good Credit Decisions

what does short sale mean

What Is the Negative Side to a Short Sell?

A short sale can seem like the only way to get out from under massive real estate debt but first, you should understand the negative impact.

Continue Reading

Why Does Getting a Mortgage from a Bank Take So Long?

Being prepared and able to provide the best information possible can help expedite the mortgage approval process.

Continue Reading

Is a Rent-to-own Home Right for You?

If you’re not quite ready to buy a home but you’re tired of paying rent with no rewards, perhaps a rent-to-own option might be right for you.

Continue Reading
View All Articles