Are there special mortgage rates for over 800 FICO scores
saphire
17 years ago
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Comments (13)
kudzu9
17 years agosaphire
17 years agoRelated Discussions
Credit scores: Playing the game
Comments (3)Knowledge is power. They don't teach much about money management in school. Many didn't learn much about it at home - as children grow, it seems to me wise to have them gain in-depth knowledge, incrementally, of how the family's financial system works. When I was a kid, we got a weekly allowance, that grew as we grew, and we were epected to buy our clothes for school and cover school expenses (which were smaller than currently). World War II began in 1939 when I was 10, the farmhands went off to war and what Dad and this 10 year old, plus a couple smaller, got done - got done: the rest ... didn't. We had lots of work in summer and Dad paid us for that, which helped us buy the things that we needed to return to school and there was an increase in our allowance, to compensate for the increased chores, year-round. We were encouraged to save some - I had a bank account when I was too young to see over the counter ... and we were expected to pay at Sunday School, church-based youth group, etc. from our allowance. In case of dire emergency, we could borrow against future allowance from Dad, which entailed some questions as to whether we might have foreseen the problem, and, even if not been able to have seen it coming, to cover the cost from savings, had we chosen to have some/(any?). And we learned early the discipline of getting along for a while on less after we'd borrowed, for Dad expected us to repay those loans earlier rather than later. Good training as to management of debt ... which would be helpful much later, when "credit" cards appeared on the scene: we knew that they didn't offer "free money". When we use someone else's money - usually they require some compensation (and, sometimes ... way too much: have you investigated the economics of the recently-arrived "payday loan" game?)! After one has stepped into a bear trap - it's a bit late to wish that one had chosen where to put one's feet more carefully! Looks as though Microsoft has cut some of our opportunity for learning about one portion of personal financial management a bit short, also. ole joyful P.S. When one guy, regardless of how central a position he holds in our economy, can become the richest man in the world in half of a generation ... ... do you figure that possibly sometimes people get overcompensated for some innovative discovery that they have made (usually, along with a number of others)? That just possibly our free-market-based economy could stand some tweaking? And the Bolsheviks and the Commuist systems aren't any better - look at all of the newly-minted millionaires ... nay, billionaires ... that have been appearing in Russia and China as their system matures (goes to seed?). And during their heyday, they arranged things so that not too many became part of the core system - didn't want to spread the largesse around too much - or it'd get too thin for each! o j...See MoreCancelling credit cards & credit score
Comments (10)Everything I've seen/heard about this is not to cancel credit cards. Cancelling them does affect your credit scores. That said, at one point I had 3 separate credit cards issued by the same bank. I use only one and pay the balance in full every month. I have received letters from the bank requesting that I either use the cards or said cards would be cancelled effective 30 days of the receipt of said letter. I didn't use them, and those accounts have been cancelled. DH hates credit cards and prefers to pay cash for purchases. I did check with the 3 credit bureaus regarding whether the cancellation by the bank for lack of use of those two cards would affect our credit scores. All three claimed that it would not, and I did manage to obtain fax confirmation of that assurance. I did pull reports at 90 days after their cancellation, and our scores hadn't changed. Unless the card company contacts you about cancelling for lack of use, I wouldn't cancel....See MoreHow do I best mortgage rate & lowest fees?
Comments (15)Thanks for the advice. I’m disappointed to hear that Navy Fed is playing games — I was hoping that they would do better for military families. I just got off the phone with someone there... they quoted a “best rate” for today of 3.25 % for a 0 point, 30 year mortgage but they charge a 1 point origination fee, plus between $400 -$800 for an appraisal, plus $40 to do a credit check on me and DH, and a “service fee” and a “tax set up fee” and a ”standard fee” and a “flood certification fee” and a bunch of other fees. It was hard to get a straight answer about all the so-called fees. They said from the time they get all the paperwork from us, they need 30-45 days but won’t tell me exactly what paperwork they need until I submit the application and the $40 credit check fee. It seems like A full 1% on a jumbo mortgage is a big fee to start with so why are they nickeling and diming with so many addition fees? Just because they can? ! At the end, after saying that’s the best they can do, they say if two other places give me a better offer, they’ll match. AAGGRrrH. I am going to hate this process! Is this par for the course?...See MoreOne home, one couple, two different mortgages possible?
Comments (40)can't believe this thread is still out there lol. No matter, I wound up getting a gorgeous house after receiving a large promotion and got to use my spotless credit for a great rate as well. Thanks to those who tried to help with a serious question, a big middle finger to the ones who decided to be rude for no apparent reason but to get their jollies off....See Moremyfask
17 years agoPipersville_Carol
17 years agoagnespuffin
17 years agodave_donhoff
17 years agomisterz
17 years agodave_donhoff
17 years agosaphire
17 years agoteresa_b
17 years agomyfask
17 years agoteresa_b
17 years ago
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