WELCOME TO CREATIVE FINANCE LOANS

The 3 C’s of credit—character, capacity, and collateral—are a widely-used framework for evaluating potential borrowers’ creditworthiness. By analyzing each applicant through those three lenses, an underwriter can better predict which borrowers will repay on time, and which are more likely to go delinquent or even default on their debt. While many banks, credit unions, and … Read more

The loan approval process refers to the steps a borrower must go through to get approved for a loan, from application to closing This process involves gathering documents, submitting an application, underwriting, appraisal, and finally closing on the loan Understanding the basics can help you navigate the loan approval process with confidence. Overview of the … Read more

“Pre-qualification” and “pre-approval” are terms that can apply to credit cards and various types of loans, including mortgages and car loans. The specific differences between the terms may vary depending on the lender and the type of loan. But for credit cards, both terms typically mean that an initial lender review suggests you’re likely to … Read more

Hey there, fellow business owners! If you’re running a shop, online store, or any kinda gig where you process payments, you’ve likely heard of chargebacks. They’re a real pain in the backside, ain’t they? But here’s the kicker—what happens if a merchant does not respond to a chargeback? Spoiler alert it’s a straight-up disaster. We’re … Read more

Even after you pay a collection account, it stays on your credit report for seven years. However, you can dispute collection accounts that are inaccurate. You may even be able to persuade a collection agency to remove the account once you’ve paid it. Although paying off accounts in collections is generally a good idea, it … Read more

There’s no specific number of hard inquiries that’s too many or too few. Although some hard inquiries might hurt your credit scores a little, credit scoring models also ignore many hard inquiries when consumers shop for a new loan. Hard inquiries in your credit report might hurt your credit scores, but theres no specific rule … Read more

It is possible to have a 700 credit score when a default payment goes to collections. That being said, it’s not likely your credit score will stay at 700 once this happens. Credit scores tend to drop once there’s a report of collections. If you have ever been on the receiving end of calls from … Read more

Private mortgage insurance (PMI) is an additional cost many homeowners pay as part of their mortgage if they put down less than 20% as a down payment. PMI protects the lender in case the borrower defaults on the loan. As a homeowner, paying PMI means spending potentially hundreds of dollars extra per month. Naturally, most … Read more

Credit cards have become an integral part of our lives. With just a swipe, you can make purchases easily and conveniently. But this convenience comes at a huge cost. Credit cards are dangerous financial tools that can wreak havoc on your finances if used irresponsibly. Here are 10 compelling reasons why you should avoid using … Read more