Boca Mortgage Blog

Common Home Buying Myths

June 24th, 2014 3:37 PM by Leonard Silvestri

                    

 For someone who has never purchased a house before, the process can be daunting. This is accelerated by common myths that float around, and continuing the rumors will only continue to perpetuate the misinformation. Read below for clarity on the most common home buying myths…

Myth #3: Lenders only use one scoring model that determines creditworthiness. Fact: There are a number of credit-scoring models used to determine credit risk in today’s marketplace. For example, many lenders use the VantageScore® as one model for determining credit worthiness. While scoring models vary, many of the same factors influence your credit score, including your payment history and your level of debt.

Posted in:General
Posted by Leonard Silvestri on June 24th, 2014 3:37 PM

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