Real Estate Term of the Day: Credit History, Credit Bureau & FICO Scores CREDIT HISTORY – an individual’s past behavior regarding the taking out and repayment of loans and the use of revolving credit, such as credit cards.  Credit histories are recorded by a small number of national credit reporting companies who issue credit reports. … More Real Estate Term of the Day: Credit History, Credit Bureau & FICO Scores

Real Estate Term of the Day: Conventional Loan CONVENTIONAL LOAN – a private mortgage loan not guaranteed but the VA or insured by the FHA (Barron’s Dictionary of Real Estate Terms) Conventional loans generally require a higher down payment of at least 5% while FHA requires only 3.5% and VA doesn’t require a down payment … More Real Estate Term of the Day: Conventional Loan

Real Estate Term of the Day: Conforming Loan & Non-Conforming Loan CONFORMING LOAN – a mortgage loan that is eligible for purchase by the FNMA (Federal National Mortgage Association commonly known as Fannie Mae) or the FHLMC (Federal Home Loan Mortgage Corporation commonly known as Freddie Mac)(Barron’s Dictionary of Real Estate Terms) NON-CONFORMING LOAN – … More Real Estate Term of the Day: Conforming Loan & Non-Conforming Loan