{"id":766,"date":"2011-11-04T09:39:00","date_gmt":"2011-11-04T14:39:00","guid":{"rendered":"http:\/\/www.orangesand.com\/?p=766"},"modified":"2011-11-04T09:39:00","modified_gmt":"2011-11-04T14:39:00","slug":"better-fico-scores-better-mortgage-rates","status":"publish","type":"post","link":"http:\/\/www.thebains.com\/blog\/2011\/11\/04\/better-fico-scores-better-mortgage-rates\/","title":{"rendered":"BETTER FICO SCORES &#8211; BETTER MORTGAGE RATES"},"content":{"rendered":"<p>Your credit score can predict you behavior in paying your bills, including your house payment.\u00a0 A person who pays his bills on time tends to that in the near-future.\u00a0 That is the basis of credit scoring.\u00a0 To lenders that is your likelihood of making on-time payments in the next 90 days, because after 90 days of nonpayment of your mortgage \u00a0you go into default.\u00a0 Higher credit scores correlate with a lower default rise, which is why you can receive lower mortgage rates.\u00a0 This applies to all types of loans and lender use the FICO Scoring Model EXCLUSIVELY.\u00a0 3 main credit bureaus in the U. S.\u00a0 are Equifax, Experian &amp; TransUnion.\u00a0 FICO named for Fair Isaac Corporation, invented in the 1950s &amp; is mortgage industry standard for credit ratings.\u00a0 This is akin to calling all adhesive bandages &#8220;Bank-Aids&#8221;.\u00a0 FICO is a trade name &amp; not a product.\u00a0 With 20% down a FICO score of 740+ and no discount points required.\u00a0 At 660-679 FICO 2.5 % discount points OR $2,500 per $100,000 borrowed.\u00a0 This fee can be rolled into your loan.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Your credit score can predict you behavior in paying your bills, including your house payment.\u00a0 A person who pays his bills on time tends to that in the near-future.\u00a0 That is the basis of credit scoring.\u00a0 To lenders that is your likelihood of making on-time payments in the next 90 days, because after 90 days [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/766"}],"collection":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/comments?post=766"}],"version-history":[{"count":0,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/766\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/media?parent=766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/categories?post=766"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/tags?post=766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}