Pretty much anything that you do these days requires a credit check. Whether it is buying a new car, car insurance, furniture, credit cards and a home. Unless you have the blessings of everything in cash, chances are you have to face this number often. 

Typical credit scores can range from 400 to 800.  There are some that are lower than 400, and chances are it will be next to impossible to get them what they want.  We're often judged by our credit. Ways that will affect your credit score can be any of the following:

1. Credit History. How long have you had credit? Lenders will look more favorably to ones who have had it longer, than those who do not.
2. Payment History. Have you paid them on time? Have you paid them early? Have you paid them at all?
3. Credit Owed.  You might have over extended yourself if you happen to owe money on quite a bit of accounts.
4. Types of Credit. Lenders like to see a variaty of credit types. Take for instance a car loan and credit cards for example.
5. Do You Have New Credit. Even if paid ahead of time, new credit can be considered too risky for some lenders.

For more information about understanding your credit score, contact a Loan Officer or visit www.myfico.com

For information about buying a new home. Give me a call. 210.918.0307. I can help you get in touch with a Loan Officer who can see how much home you can pre-qualify for.

Eric D. Bolton, REALTOR
www.ericdbolton.com