What is a FICO score and why do lenders need it? origin of fico score: Back in 1956, an engineer named William Fair and a mathematician named Earl Isaac came up with a formula to calculate the first credit scoring system. This calculation measures a consumer’s credit risk and has become a fixture in consumer... Read More »
Protecting your credit score during the home loan process is important. Your loan interest rate and loan costs could be altered by even a marginal change! Make payments on time. Keep up with current bills and avoid delinquent and late payments. When possible, pay off your total balance instead of just making a minimum payment.... Read More »
How Does my credit score impact my loan? Lenders use credit scores to determine: Who qualifies for a loan At what interest rate What credit limits typically, credit scores will range from 300-850. fair to excellent credit scores will range from 300-850. there are many benefits to having a fair to good credit score You’ll... Read More »
Use our interactive worksheet to give you an indication of your financial health when including a monthly mortgage payment and typical homeowner expenses. LH Lending Interactive Budget Worksheet and Tips This worksheet will help you to understand your total debt-to-income (DTI) ratio, which compares your earnings against monthly expense obligations. Mortgage lenders consider DTI ratio... Read More »
12 Tips for First Time Homebuyers 1. Start saving for your down payment as early as possible Even though there are many options that allow as low as a 5% down payment, it is significantly better to have more money up front than less. Be sure to know how much home you can afford before... Read More »
7389 Florida Boulevard
Suite 200C
Baton Rouge, LA 70806
Office: 225-490-6649 | Cell: 985-320-8115
Email: ablakeney@lhlending.com
NMLS 1106845
Equal Housing Lender. ©2022 LH Lending LLC. Loan programs not available in all states, or to all consumers. All loans are subject to availability at the time of application and for terms that meet each individual consumer’s needs and qualification information. Loan applications are subject to credit and property approval. LH Lending LLC encourages all consumers to consult with a tax advisor concerning the tax implications for the type of mortgage sought.
7389 Florida Boulevard Suite 200C, Baton Rouge, LA 70806 | LH Lending NMLS 1197059 www.nmlsconsumeraccess.org
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