Blog Category: credit cards

credit cards

Credit Score Simulator

A Credit Score Simulator can help with “What If” scenarios to determine what you could potentially do to raise your credit score. It can also show you what could negatively impact your credit score. It is important to see how your credit choices might affect your credit score because your credit score will impact the underwriting of your loan, your interest rate quote, and even the cost of your mortgage insurance.

Some of the various things a Credit Score Simulator can measure to see how they will impact your credit score are: Read More

But I Pay Off My Credit Cards Monthly

brian-martucci-mortgage-i-pay-off-credit-cardsSome clients get a bit frustrated that minimum monthly credit card payments are counted against them in their debt ratios, even if they pay off their credit card bills every month. First, the underwriter can’t assume that the client pays them off every month. Second, if you are spending about $3,000 every month on your credit cards, for example, and usually pay that amount off every month, and the minimum monthly payments are $150 a month, it seems pretty fair if you are spending $3,000 a month to only count $150 a month against you in your debt ratios.

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