Sacramento Mortgage Lender

When life gives you lemons🍋…

Wed, 17 Jun 2020 21:31:00 GMT

Well, there is lots you can do!

Your Fico Score May Be Changing Soon!

Tue, 11 Feb 2020 17:04:00 GMT

Credit scores go up, and they come down. We all understand that fact, but usually, there’s a direct cause and effect when your FICO Score hops or drops; i.e. you just maxed out all of your credit cards at the mall.

However, your score could soon be going up – or down – for little fault of your own! According to FICO, a new scoring model could create waves among consumers who see their scores on a roller coaster ride soon.

FICO Scores – a three-digit number that gauges your financial behavior as credit risk – will soon give more credence to your debt levels, as well as emphasize reporting of personal loans.

With past FICO scoring models, your payment history (the biggest factor that goes into calculating your FICO), was based on an overall “snapshot.”

But with the new scoring model, more data will be collected and analyzed to factor into your score, including the historical trend of your payment history over time. That includes account balances going back up to 24 months, which will give FICO a lot more to base your score on.

Get ready, because depending on your credit usage and payment history, your new FICO score could rise or fall by up to 20 points – a new paradigm that will affect up to 80 million consumers, according to Dave Shellenberger, VP of Product Management at FICO. And 100 million Americans are expected to see just a “modest” score change.

Thank you to Blue Water Credit for providing this article. If you have questions on how your credit score can/will affect your mortgage interest rate, call me today.

Pets- Scientifically Proven to Make Our Day Better

Thu, 30 Jan 2020 02:45:00 GMT

Pet owners are proven to have higher positive mental health compared to non-pet-owners. In a study, 74% of pet owners reported mental health improvements from pet ownership, and 75% of pet owners reported a friend’s or family member’s mental health has improved because of the pets in their lives. Pets increase the oxytocin levels in the brain, which leads to a happier life. Pets and therapy animals can help alleviate stress, anxiety, depression, feelings of loneliness, and social isolation. In addition, we don’t always know why they behave the way they do or know what they’re thinking, which often serves as a form of entertainment. Pets add a level of comfort on a daily basis in a way that builds routine, trust, and consistency helps develop a bond that is unique from even close friends. That may be a contributing factor as to why so many pet owners consider their pets to be a member of the family. Pets also encourage exercise, and as there is a proven link between exercise and well being, not only are pet owners likely to get the endorphins from exercise but so are their pets!