Credit

Where the Heck Did FICO Come From?

Not too long ago, the credit world was much different than it is today. Credit bureaus operated in near secrecy, gathering information in ways that may surprise you. For instance, did you know that Retailer’s credit (now Equifax) received information about you gathered by the Welcome Wagon hostess?

Getting Started with a Pre-Qualification

(All stories shared on Lending A Hand contain fictitious names with changes to insignificant details.  The privacy and trust of our customers is our top priority.)
Bonnie and Clyde (fictional names, of course) called us up the other day to get qualified for a home purchase.  Apparently the robbery profession isn’t what it used to be. [...]

What is a Good Credit Score?

You just want to know what a good credit score is.  Probably because you are looking into obtaining a mortgage, or maybe an auto loan.  Did you know credit scores are used in other areas outside of obtaining financing?  Cell phone companies, insurance companies, apartments and sometimes even employers will check your credit to determine [...]

Free Credit Report

Many people I talk to have heard about getting their FREE credit report at www.freecreditreport.com because they have heard the catchy commercials they have singing about getting their free report.  The advertising is exactly correct; you can get a free credit report from their site IF you sign up for their Triple Advantage Credit Monitoring.  [...]

Quickly Increase Credit Score

Many tools are available to mortgage lenders and one of the tools I often use in my business is a Credit Analyzer tool provided by Advantage Credit of Colorado.  By utilizing this tool and the experience gained from working with many customers, I have found ways to improve credit scores quickly to help in qualifying [...]

Oh No…Credit Report Inquiries!

“I don’t want you to pull credit because my credit score will drop”.  This is a phrase I hear all too often when I am working with potential home buyers.  So instead of having the fear without understanding the impact an inquiry has on your credit score, I figured I would explain how inquiries really [...]