Credit Scoring , , , ,

Understanding Your Credit Score And How It Impacts Your Home Ownership Prospects

Understanding your credit score and how it impacts your home ownership prospects your credit score is an important part of your financial profile. It has a direct impact on your ability to take out loans. The score itself is a numerical reflection of your credit history. It gives lenders a way to discern your reliability before approving a loan like a mortgage for instance. Though this is the basic function of a credit score, it can also have a far-reaching influence over other aspects of home ownership. Mortgage Loan Approval: Will Your Score Make the Cut? First and foremost, the…
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Credit Scoring , ,

Improve Your Credit Score To Get Better Mortgage Rates

For home buyers in Morgan Hill and nationwide, credit scores can change low mortgage rates and alter home loan approvals. Borrowers with high credit scores get access to lower mortgage rates, for example, and can find the mortgage approval process to be more smooth that borrowers with low credit scores. If your credit score is low, here are some basic ways to help improve it.  Get The ReportsDownload an updated version of your credit report from each of the three major reporting bureaus -- Equifax, Experian and TransUnion. The reports may mirror each other, but credit accounts -- especially derogatory…
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