Oklahoma County Down Payment Assistance

Do you make less than $86,100 annually?  Would you like to get into a $214,925 home with no money down and your closing costs paid?  If so, read on. The Oklahoma County Finance Authority will soon be rolling out a new $15,000,000 bond program to help home buyers in Oklahoma County stop renting and get into their own home. The program is expected to roll out around December 15 but has already been delayed once so that date is not yet firm. The program is designed to help home buyers with an income of less than $86,100 buy a home valued at up to $214,925. Unlike the past OKHFA bond programs, … Continue reading...

Credit Scoring Made Simple

What is credit scoring? Simply put, credit scoring is a method of assessing the credit risk of a loan applicant. Credit bureaus such as Experian, Equifax and Trans Union each developed mathematical scoring models that allowed them to offer a score based solely on the data of a single borrower. It evaluates a person's credit worthiness based on their credit history and current credit accounts. This is commonly called your FICO score. Creditors frequently use these scores when deciding who gets a loan and at what rate. However, your credit score is not the only criteria used by mortgage … Continue reading...