High FICO Score Gets Low California Home Mortgage Loan Rates
We have programs specifically designed for California residents who have a high FICO score and therefore qualify for a low home mortgage loan rate that could potentially save hundreds of dollars a month, states Raoul Amescua V.P. of www.GoldMedalMortgage.com
(PRWEB) September 14, 2004 -- "We have programs specifically designed for California residents who have a high FICO score and therefore qualify for a low home mortgage loan rate that could potentially save hundreds of dollars a month,"
For more information call 866 398 4664 or please go to:
http://www.goldmedalmortgage.com
"As an example on a $150,000 30-year, fixed-rate mortgage a borrower with a high FICO could pay as low as $895 a month, where somebody with a lower score could pay $1238 on the same loan."
"FICO credit scores can range from 300 to 800. Remember, the higher the FICO credit score the better the home mortgage loan rate!"
"A high FICO score is your reward for paying bills on time. This is one of the most important factors that determine your home mortgage loan rate. A borrowers high FICO score is the best signal to the lender of how well youll make your mortgage payments"
The best known credit score is called the FICO score, developed by Fair Isaac and Company (FICO).
"The most important information that the credit agencies use to determine your credit score are:
| | - Credit History - How long have you had credit? The longer youve had good credit the higher the FICO credit score.
- Payment History - Do you pay your bills on time? One 30 or 60 day late payment can damage your good FICO credit score.
- Credit Card Balances - How much do you owe and how many accounts do you have? A person who has many credit cards even if there are small or no balances on the accounts has a greater potential to incur debt. Close out the credit cards that you dont use!
- Credit Inquiries - How many times have you had your credit checked? The fewer inquiries on your credit report the better the FICO credit score. So when you sign up for a free gift at the mall and your credit gets checked you might have lowered your FICO score even if you have no intention of using the new card!"
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"It is very important to know your FICO score even if you are not in the market for a home mortgage loan rate. You could have errors on your credit report which are lowering your FICO score."
About www.GoldMedalMortgage.com
Www.goldmedalmortgage.com is powered by Infiniti Mortgage Capital, Inc with officies and affiliates nationwide. They have programs specifically designed for California residents who have a high FICO score and therefore qualify for a low home mortgage loan rate.
They also offer a full portfolio of home loan products including debt consolidation loans, and home refinancing. First time home buyer loans are available.
For more information call 866 398 4664 or please go to:
http://www.goldmedalmortgage.com
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