- Credit Scoring Guide

IIn a nutshell, credit scoring is a statistical method of assessing the credit risk of a loan applicant that is used by Philadelphia Mortgage Home Loans .com as well as most mortgage companies in the Philadelphia area. The score is a number that rates the likelihood an individual will pay back a loan. The score looks at the following items: past delinquencies, derogatory payment behavior, current debt level, length of credit history, types of credit, number of inquiries. Credit scoring will place borrowers in one of three general categories. First, a borrower with a score 680 and above may be considered an A+ loan. Borrowers falling into this category may have a good chance to obtain a lower rate of interest and close their loan within a couple of days. Second, a score below 680 but above 620 may indicate underwriters will take a closer look at the file in determining potential risks. Supplemental credit documentation and letters of explanation may be required before an underwriting decision is made. Loans within this FICO scoring range may allow borrowers to obtain "A" pricing, but loan closing may still take several days or weeks as it does now. Third, borrowers with a score below 620 may find themselves locked out of the best loan rates and terms offered. Borrowers may find the loan terms and conditions less attractive than the "A" loans, and it may take some time before a suitable funding source is located. Contact Philadelphia Mortgage Home Loans .com today to see what your credit score is and which loan programs you qualify for. Remember our goal is to get Philadelphia and other Pennsylvania area residents into the homes they want; we can work out a loan program that’s right for you even if your credit score isn’t A+.

Second Mortgage Payment Calculations
Interest Rate Considerations
Credit Scoring Guide
FAQ's About Credit

- Welcome to Philadelphia Mortgage Home Loans .com

Philadelphia Mortgage Home Loans .com offers all the information you need to help you in obtaining a home loan or mortgage in the state of Pennsylvania. Philadelphia Mortgage Home Loans .com is locally owned and operated to ensure you a friendly and hospitable environment, therefore Philadelphia Mortgage Home Loans .com is Pennsylvania's professional mortgage broker of choice. We are also licensed to provide Philadelphia mortgages and home loans, Philadelphia jumbo loans, stated income and self employed in Philadelphia, Philadelphia second mortgages and Philadelphia refinance loans, Philadelphia fixed rate mortgages, Philadelphia Debt Consolidation loans, and home mortgage loans in Philadelphia.

- Helping First Time Home Buyers is our First Priority

Contemporary Mortgage Solutions welcomes first time home buyers in the Philadelphia and surrounding areas offering programs to help you own your first home. With our help you may qualify for low interest rates with the Pennsylvania Housing Finance Agency (PHFA). There are also low down payment loans available to qualified first time buyers and many more options open to Philadelphia and Pennsylvania area first time home buyers. Contact one of our Philadelphia Mortgage Home Loans .com representatives for more information and help in buying your first home.

Additional First Time Home Buyer Information

- Real Estate for Philadelphia, Pennsylvania Area

At CMSolutions we offer mortgages and real estate agents who work and live in the areas listed, we work for the whole state of Pennsylvania, so if the area you are searching for is not on the list below then call one of our mortgage and real estate experts at CMSolutions for more information.

Philadelphia Real Estate
North Wales Real Estate
Lansdale Real Estate
Montgomery Real Estate
Norristown Real Estate
Lower Gwynedd Real Estate
Upper Gwynedd Real Estate
Doylestown Real Estate
Dublin Real Estate
Bristol Real Estate