Credit scores might be the single most common topic when folks ask questions of me. But when you ask me what your credit score is, I can only answer that you’re asking the wrong question. Let’s take a look. Your Credit Score Depends on Purpose If I run your credit score for a mortgage application,...
What is a Credit Score?
Let’s start here. A credit score is a measure of how likely it is that you will default on the specific credit that you are applying for. The scoring models are based on statistical analysis of an aggregate of everyone who has ever obtained credit. The model looks at the credit histories of those who...
Home Equity Lines of Credit (HELOCS)
Home Equity Lines of Credit are and excellent way to access the equity in your home with very flexible terms, giving you control over how much it will cost you over time. In almost all cases an equity line is written as a second loan on a property, meaning that there is a first mortgage...
Is the 50 Year Mortgage Back?
The current administration has floated the idea of a 50-year mortgage to make home buying more affordable. Is this a good idea? Let’s take a look. Benefits of a 50-Year Mortgage The aim of allowing a 50-year repayment period is to lower the monthly payment. This would have two benefits: the lower payment would mean...
5 Ways to Access Your Home Equity
If you own your own home and want to access your home equity, the news has been good for you lately. Home values continue to rise across most of the country. From Calculated Risk: A Deep Dive Into National and Regional Statistics If you were very lucky, or very smart, you refinanced in 2021 or...
Get Cash Out and Leave Your First Mortgage Alone
During 2020 and 2021 millions of homeowners took out first mortgages at very low interest rates. I know, because I arranged them for a bunch of you. Now those same homeowners are sitting on a ton of equity—hundreds of thousands of dollars, if not a million dollars or more. The question I hear often is...
Second Mortgage Makes a Comeback
For many homeowners, their home is not only a place to live, but also their biggest asset. When additional funds are needed, tapping into the value of their home through a second mortgage can be a smart move. A second mortgage is a loan that is secured by the equity in a home, and it...
No Loan Contingency Offer: Path to Success or Disaster?
The real estate market is tough right now. High interest rates make buying more expensive, but low inventory is driving multiple offers and bidding wars. Many of my clients are now making offers with no loan contingencies. This can be quite nerve-wracking, and there are some risks. Should you offer to purchase a home with...
Does Running Credit Hurt Your Credit Score?
Updated 4/23/2026 | Casey Fleming | You’ve no doubt heard that running credit will hurt your credit score. How true is this? Well, kind of. Let’s take a look. First, you should understand the difference between a hard credit pull and a soft one. According to American Express, “(A hard pull) should happen only when...
Debt Consolidation Done Right
Total U.S. household debt increased by 6.2% from a year ago to a total of $15.24 trillion. Yikes.