Credit Challenges

Credit Challenges

Credit remediation is a subject consumers often face with fear and trepidation, for good reason.

With the exception of recognizing that the best score wins, the average home shopper knows very little about the whole credit scoring process. The good news is there are ways to improve less-than-perfect credit scores and obtain a loan for the home you really want.

It's important to start out knowing just what a good credit score is.

Credit scores for securing loans with the best terms generally begin around 680, although this number may differ slightly among lenders. You shouldn’t despair if you come up shy as there is always room for improvement. Increasing the credit score just 5 points can save a significant amount of money.

For example, if your score is 698 and you increase it to 703, you could save yourself thousands of dollars over the life of the loan as a result of a slight improvement to your loan’s interest rate.

While credit repair is necessary for some, it's not the only way to increase a credit score.

Even if you have stellar credit, you can learn ways to enhance your scores through these steps:

• Evenly distribute your credit card debt to change the ratio of debt to available credit.

  Let's say you have a credit score of 665. If you have debt on only one card and four additional credit cards with zero balances, evenly distributing the debt of the first card could move you closer or possibly into that ideal bracket.

• Keep your existing accounts open and active. The average consumer is usually anxious to close credit card accounts that have zero balances but doing this can cause you to lose the benefits of a long-term credit history.

  You would also lose the benefits from the increase in the ratio of your debt-to-available credit.

  The bottom line is don't close those old accounts!

Ensure your credit report is accurate. Many times a score can be improved by simply having a misreported item corrected.

Of course, if you are already a Real Estate Professional and you would be interested in learning how you can keep more of the profits originating from all your client's home loans, you are more than welcome to Join My Team by visiting that page and filling out the form.

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Credit Challenges Afraid of the huge unknown Credit Challenges out there? Read this page to learn some possible ways to avoid them

Anyone looking to actually save money with their home financing can Contact Me Directly to get the process started.

On the other hand, if you are a Real Estate Professional and you would be interested in keeping more of the profits originating from all the home loans you initiate, you can Become an Associate of My Team by filling out the form on that page.

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In order to find out what your best loan options are, you can start the process by visiting my Loan Helper page and when you submit your contact information in the form on that page, that will let me know you are interested in finding out how I can help you.