Credit Inquiries and FICO Scores

Can credit inquiries hurt FICO scores? The short answer is yes. Racking up large numbers of inquiries can lower your score. The FICO models consider them significant because extensive behavioral research has shown that consumers who are seeking new credit accounts are riskier and more prone to defaults. Statistically, people with six or more inquiries on their credit reports can be up to eight ...

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Refinance Program HARP 2.0 is Here….

The cornerstone of Trulending Mortgage is a fierce commitment to integrity, service and expertise and these core values have, thankfully, resulted in client relationships for life. Please visit our testimonial section to see what our customers are saying;

HARP 2.0 (Home Affordable Refinance Program):
Finally, this past week Fannie Mae and Freddie Mac released the much anticipated guidelines for HARP 2.0. ...

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FHA Streamline Refinancing Saves Money

One of the easiest refinances to do is an FHA streamline refinance and we are well versed in the nuances of the program.  If you already have an FHA Mortgage, a Streamline Refinancing is a quick, low-cost option to lower your interest rate and monthly payments.  Below are some advantages:

  • No appraisal required
  • No income verification (Use income from original application)
  • We pull a mortgage only credit report and exclude all other liabilities
  • We ...

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Mortgage Rates On The Move

As is often the case, good economic news translates to interest rate increases. An upbeat market decreases the demand for less risky investments such bonds which, in turn, drives up the yield on mortgage rates. Declining unemployment (8.3% nationwide) and the future meeting of political leaders to draft a bailout package for Greece appear to be the two main reasons why the stock market and interest rates have been on ...

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Payroll Tax Cut Impact on Rates

Over the holidays, you may have read that Congress passed the Temporary Payroll Tax Cut Continuation Act of 2011. This measure/tax cut of 2% is paid for in part by increasing the fees that FNMA, FHLMC and FHA charge lenders (These fees are called Guarantee Fees or “G-Fees”). The payroll tax cut is a short-term benefit but the impact on G-Fees and FHA insurance costs could last a decade or ...

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