6 Reasons Why Your FICO Score Could Suddenly Drop

An animated graphic of a person holding a house with a family inside

If you’ve ever applied for a mortgage, chances are you’ve heard of the term ‘FICO score’.It’s a three-digit number that reflects your ability to pay back a loan; The bigger the number, the easier it is for you to take out a mortgage because you’re seen as less of a default risk compared to others! FICO scores…

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Conforming vs. Non-Conforming Mortgage Loans: Which One’s Better?

An aerial view of a cul de sac in a neighborhood

Non-profit research organization the Urban Institute recently described the 30-year fixed-rate mortgage as ‘the bedrock of the US housing finance system.’ This type of mortgage falls under two classifications: conforming and non-conforming. Both types of home loans have their own unique benefits and drawbacks—but which one’s better? Here’s a summary of how each type of mortgage works…

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Key Differences Between Recourse and Non-Recourse Home Loans

A house next to a street and a couple of trees

Picture this. You’re browsing real estate listings one day and come across the home of your dreams. It has everything you desire—state-of-the-art kitchen appliances, a lawn with automatic sprinklers, and stunning interior décor you can’t wait to show off on social media. You’ve got a bit of money saved for a down payment, so you…

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