LivingMalibu.com » Loan rates http://www.livingmalibu.com Malibu Real Estate-Malibu Homes For Sale Tue, 18 Jul 2017 20:51:46 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Why You Might Not Get Best Rates, When Shopping To Finance Your Malibu Home http://www.livingmalibu.com/why-you-might-not-get-best-rates-when-shopping-to-finance-your-malibu-home/ http://www.livingmalibu.com/why-you-might-not-get-best-rates-when-shopping-to-finance-your-malibu-home/#comments Wed, 26 Sep 2012 18:22:36 +0000 ritasimpson http://www.livingmalibu.com/?p=2368

When shopping for a mortgage to finance your new home in Malibu keep in mind that one in five consumers are likely to receive a different credit score from what a creditor will use to price a loan, according to the Consumer Financial Protection Bureau.

Many consumers incorrectly believe that the scores they purchase are the ...]]>

When shopping for a mortgage to finance your new home in Malibu keep in mind that one in five consumers are likely to receive a different credit score from what a creditor will use to price a loan, according to the Consumer Financial Protection Bureau.

Many consumers incorrectly believe that the scores they purchase are the same ones used by lenders. The Consumer Financial Protection Bureau sites FICO scores, which are widely used by lenders, as having different credit scoring models for lenders and consumers that can vary. VantageScore also has different types of credit scores, and that may lead consumers to believe they are eligible to rates they really won’t qualify for.

Source: “Regulator Sees Flaws in Credit-Score Information,” The Wall Street Journal (Sept. 25, 2012)

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