Utah mortgage loans is committed to helping you find the right mortgage product for your needs in Highland. We understand that every borrower is different, and we off a varity of products to meet your individual requirements. We make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.
This mortgage rate quote form will take approximately 60 seconds to complete. Here's how our service works:
1. Complete our short form below
2. We will search hundreds of mortgage lenders and thousands of loan programs in our database
3. You will then receive quotes from up to 4 competitive lenders in your state
4. You choose the mortgage lender with the best rate and loan terms and save money!
-->
Our fast Mortgage application will help you find the perfect lender. It takes only one minute
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Keep Your Credit History Clean - Remove A Negative Credit Record
From Your Credit Report
It can make a difference of up to 18% in loan repayment costs.
For example, on a 30-year, $150,000 fixed rate mortgage, a
borrower with the best credit score, 760-850, will pay 5.59%, or
$860 per month, while someone in the worst score range will pay
7.18%, or $1,016 per month. This can make a big different to the
household budget, so it's to your advantage to keep your credit
score as low as possible.
The 3 major credit bureaus, Experian, Equifax and Trans Union
are similar and feature a "Credit Score", which is derived from
credit report information submitted to them about you.
Uner the Equal Credit Opportunity Act, a credit scoring system
may not use characteristics such as race, sex, marital status,
national origin or religion as factors, though they are allowed
to use age.
Credit scores are determined by your bill-paying history, the
number and type type of accounts you have, late payments,
collection actions, and outstanding debt. The total number of
points reflects how likely you are, statistically-speaking, to
pay back a loan.
If you are denied credit, the Equal Credit Opportunity Act
forces the creditor to tell you the specific reasons your loan
application was denied if you ask within 60 days. Acceptable
reasons include high balances on charge cards, or bad employment
history. Unacceptable reasons include vague excuses such as "You
didn't meet our minimum standards". Sometimes you can be denied
credit because of information on a credit report. The Fair
Credit Reporting Act requires the creditor to give you the
contact information of the credit report agency supplying the
information. The credit reporting agency can give you the
information on your report, but only the lender can tell you why
this led to your application being refused.
However your credit report may include inaccurate or incomplete
information (credit records). Identity theft is a growing
problem, and can take up to a year to resolve. Nearly 10 million
people fall victim to identity theft each year, costing
consumers $5 billion and businesses $48 billion, according to
the Federal Trade Commission.
In this situation you have to send letters to every one of the
credit bureaus. Also learn your credit rights by familiarizing
yourself with the Fair Credit Reporting Act (FRCA).
The FCRA gives you the right to dispute inaccuracies and
omissions, and it requires credit bureaus to investigate your
complaint (generally in thirty days), send you a prompt response
and correct any errors. The law as well requires the source of
inaccurate information (such as a bank) to correct the record at
the credit bureaus to which it initially provided the erroneous
information.
Consumers working on their credit reports say many times their
letters are ignored by credit bureaus. Consumers say even with
proof a credit record isn't theirs, its removal from their
credit report can take 3 or even 4 challenge letters, because
the credit bureaus will have only corrected the facts in their
own files and not updated the credit report.
Send your dispute letter by REGISTED MAIL. Credit companies will
respond faster if they know you can prove you filed a complaint
on a certain date. Keep a record of when you sent the dispute
letters and what date you should expect a response. If you have
received no defense to your claim after thirty to thirty seven
days, send another registered letter requesting an updated
credit report and demanding the disputed credit record be
deleted.
If the bureaus don't reply in the thirty days, it must be that
the information they had on file was either inaccurate or
unverifiable. In either case, based on data from the Fair Credit
Reporting Act, the credit record must be immediately deleted
from your credit report.
A few consumers have eliminated negative marks on credit reports
just by going through this process of disputing credit records
many times. Since some creditors will not take the time to
respond, you can sometimes win by default. Usually a bit of
progress will be made with each challenge.Remember, the credit
bureau would like you to quit bothering them because if you are
not disputing the credit report, they can legally carry on
selling it as profitable information.
To obtain your credit score, correct your credit rating, or even
avoid becoming a Victim of Identity Theft visit our website at
www.credit-score-now.info
About the author:
None