Term: Income
2 found

Think You Can’t Afford to Buy a Home? Think Again

By Steven Shaw on 12/10/2014

How You Could Be Underestimating Your Homebuying Chances

Did you have a bad credit event in recent years? Do you have less than two years in the same career field? Is your monthly income less than three times your proposed payment? Fear not, when your financial picture doesn’t fit neatly into the box, you may still qualify with some lenders. Here’s how.

Home Loan

Why Isn’t Income Part of My Credit Score?

By Steven Shaw on 5/5/2014

Why Isn't Income Part of My Credit Score?  

After a series of financial setbacks, Eddie’s income is on the upswing. But that doesn’t seem to be helping his credit scores one bit. He wrote in an email asking why it didn’t:

I bring home $650 a month MORE than when I worked, and my monthly outlay is $700 less, so I have $1,350 more disposable income every month than I had when I had all that debt. Yet I can’t get a freakin’ credit card?

Why doesn’t income affect your credit scores?

credit score
credit scores
FICO credit score