Where Does the Money Come From for Mortgage Loans?

Linda Bagley
Where Does the Money Come From for Mortgage Loans? In the “olden” days, when someone wanted a home loan they walked downtown to the neighborhood bank or savings & loan. If the bank had extra funds laying around and considered you a good credit risk, they would lend you the money from their own funds. It doesn’t generally work like that anymore. Most of the money for home loans comes … Read More

FICO Score – a Brief Explanation

Linda Bagley
FICO Score – a Brief Explanation When you apply for a mortgage loan, you expect your lender to pull a credit report and look at whether you’ve made your payments on time. What you may not expect is that they seem to be more interested in your “FICO” score. “What’s a FICO score?” is a common reaction. Each time your credit report is pulled, it is run through a computer … Read More