New Program Tackles Student Loan and Down Payment Challenges

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The high cost of student loans get blamed for a lot today—millennials living with parents again, delaying marriage and homeownership. The first-time homebuyer market remains stalled and many sources blame student loan debt for the drag on future buyer’s finances. Moreover, rising rents prevent would-be buyers from saving for a home.

One state recently launched a new program that may help solve those problems. keep reading

What Lenders are Really Thinking When They See Your Credit Score

Without a high credit score, you won’t qualify for the best mortgage rates available, which could mean you’ll end up paying more money over the term of your mortgage. Even with rates at historic lows right now, the difference between 3.5% and 3.75% can add up, especially if you’re applying for a 30-year fixed-rate mortgage.

Why does your credit score matter to lenders?

Along with a low debt-to-income ratio and a strong financial history, a high credit score gets you a low mortgage rate. But why? keep reading