Indianapolis Real Estate News And Information From HomeToIndy.com

The basis of most mortgage lending is credit scoring.  In general, the higher a person's credit score, the lower his offered mortgage interest rate. Despite the many credit scoring models in use today, however, just 3 are relevant to American homeowners:

• The Equifax BEACON^® score
• The Experian Fair Isaac Risk Model
• The TransUnion EMPIRICA^®

Generically, these scoring models generate what are commonly known as 'FICO' scores. FICO scores are measurements of probability. 

The higher a person's credit score, by definition, the less likely a person is to default on his home loan. 

This is one reason why credit scoring has added importance lately -- mortgage lenders are very careful about what they're lending and to whom. Notably, minimum FICO thresholds have been added to all types of mortgage loans. FICO scoring has 5 main components as listed above. 

Payment...

Zionsville has been named as the best affordable suburb in Indiana by Business Week. As a suburb of Indianapolis, Zionsville is actually one of the most expensive suburbs in the Indianapolis area, where real estate prices are concerned.

So, what was the determining criteria?

The country's 'Best Affordable Suburbs' doesn't list the nation's most affordable suburbs, but instead, a group of cities, towns, and villages in which the populace sits between five and sixty-thousand, and the economy, the schools, the lifestyle and the crime levels are all within a desirable range.

That said, though, near every major city, there are some neighborhoods in which home affordability and...