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face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Did you know that
75% of all mortgage lenders use a three-digit credit score to determine your
loan eligibility This score is based on the information contained in your
credit report. And the interest rate you will be charged is based on your credit
score, so raising your credit score as little as 15 points could result in a
lower interest rate and thousands in savings. You can save anywhere from a few
hundred dollars in credit card interest charges, thousands of dollars on your
next car loan, and tens of thousands of dollars on a mortgage loan simply by
improving your
class=Helvetica10 face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>credit score
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> as much as
possible.

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">The information
below offers general guidelines as to what your credit score might be. Each
lender sets its own guidelines for approving loans and issuing credit. For this
reason, the information below offers only general guidelines. Your
debt-to-income ratio also plays a role in determining whether or not you will be
issued credit. Some lenders require a debt-to-income ratio that may be higher
or lower than those stated below. See bottom of this page to find out how to
calculate your debt-to-income ratio.

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">The information
below is based on the
class=Helvetica10 face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>FICO scoring model
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> which ranges from
about 375 to 900. Other lenders might use their own in-house scoring systems or
another scoring model. General rules to determine your credit score and
creditworthiness are as follows:

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">class=Helvetica10 face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>A rating
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> Credit score 660
or higher -- You can easily obtain financing at the best rate; you can get
approved for a credit card online in a few seconds. Note that a score above 700
means you have extremely good credit.

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Typical debt- to-
income ratio
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: Below
35%

face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>Mortgage:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> You have not
been late with a payment in the last 24 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Installment
loan
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: You have been
30 days late making payments 0 or 1 time within the last 12 to 24
months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Revolving
credit:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> You have been 30
or 60 days late with a payment 0 or 1 time in the last 12 to 24
months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Additional
requirements:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> Good/excellent
credit during the last 2 to 5 years; no bankruptcy within the last 2 to 10
years

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">B
rating
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> Minimum credit
score 620 You can get approved, but not at lowest rate. You can get credit
cards and such, but at a higher rate than someone with an A rating.

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Typical
debt-to-income ratio:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> Around
50%

face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>Mortgage
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: You have been
30 days late with a payment 2 or 3 times in the last 12 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Installment
Loan
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: You have been
30 days late with a payment 2 to 4 times during the last 12 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Revolving
credit
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: You have been
30 days late with a payment 0 to 2 times in the last 12 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Additional
requirements
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: You have no
60-day late mortgage payments; if filed bankruptcy, it must be discharged 2 to 4
years ago

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">C
rating
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> Minimum credit
score 580 Have trouble getting approved. Very high rates.

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">The lender might
ask you to get someone to co-sign for you.

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Typical
debt-to-income ratio
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: 55% or
higher

face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>Mortgage
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: You have been
30 days late with a payment 3 or 4 times in the last 12 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Installment
Loan
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: You have been
30 days late with a payment 4 to 6 times during the last 12 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Revolving
credit
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: You have been
60 days late with a payment 2 to 4 times in the last 12 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Additional
requirements
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: If you filed
bankruptcy, it was discharged 1 or 2 years ago

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">D
rating
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> Minimum credit
score 550 Serious trouble getting approved. Co-signor required.

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Typical
debt-to-income ratio
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: Around
60%

face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>Mortgage
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: You have been
30 days late with a payment 2 to 6 times in the last 12 months; and 60 days late
1 to 2 times during the last 12 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Installment
Loan:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> You have a few
90 and 120 day late payments during the last 12 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Revolving
credit:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> You have a few
90 and 120 day late payments during the last 12 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Additional
requirements
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: If you filed
bankruptcy, was discharged within last 12 months

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">E
rating
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> Credit score
under 550 Unlikely to be approved.

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Typical
debt-to-income ratio:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> Around
65%

face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>Mortgage:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> You have a
pattern of 20, 60, 90 and/or 120 day late payments

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Installment
Loan:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> You have a
pattern of 20, 60, 90 and/or 120 day late payments

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Revolving
credit:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> You have a
pattern of 20, 60, 90 and/or 120 day late payments

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Additional
requirements
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">: You may have a
current bankruptcy or foreclosure

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src="http://www.homestead.com//site/Scripts_Shapes/shapes.dllCMD=GetRectangleGif&r=153&g=153&b=153"
width=1 border=0>

style="LEFT: 169px; WIDTH: 501px; POSITION: absolute; TOP: 1426px; HEIGHT: 353px">




face="Arial, Helvetica, adobe-helvetica, Arial Narrow">How to Calculate
Your Debt-to-Income Ratio

face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">The formula for
calculating your debt-to-income ratio is monthly fixed expenses divided by gross
monthly income (before taxes and deductions). Monthly fixed expenses include
all debt, such as the following: house payment or lease, credit card and other
revolving credit balances that it will take you longer than 6 months to pay off;
car payments, alimony, child support, etc. Do
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">
not
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"> include grocery,
telephone, and utility bills or any debt that will be paid off in the next few
months.

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Sample
calculation:

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face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Gross monthly
household income:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>$5,000

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Fixed expenses:
face="Arial, Helvetica, adobe-helvetica, Arial Narrow">$1,560

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">house payment
$540.00 + car payment $370.00 + credit cards $250.00 + child support
$400.00

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">Debt-to-income
ratio calculation:

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">

face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>$1,560

face="Arial, Helvetica, adobe-helvetica, Arial Narrow">$5,000 =
face="Arial, Helvetica, adobe-helvetica, Arial Narrow"
size=2>31%




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