Having an excellent credit score is very useful. The following are some tips on how to maintain a superb credit score. Open Credit Accounts When You Do Not Need Them If you don't have any credit accounts, you will have a low score. The best time to open them is when you do not need them. Keep a small balance on them and pay it all off at the end of each month to avoid paying interest. Charge Up To Half The Credit Limit Then Pay It All Back Within A Few Months If you must use a credit line, only use half of it … (2 comments)
credit scores: Til' Debt Do Us Part: How to Get a Mortgage If One Spouse Has Poor Credit
- 04/12/17 08:18 AM
A poor credit history is a reality for many people, but it can be particularly daunting when it comes to investing in a house. Simply because you or yours have experienced bad credit doesn't mean that you should be penalized in the future. If your spouse has struggled with bad credit in the past but you're both preparing to move forward and invest in a home, here are some tips for getting it together financially. Face The Music Many people who have bad credit are too scared to look at their credit report and broach it honestly. But it's important to come … (5 comments)
credit scores: How To Boost Your Credit Score Before Applying for a Mortgage
- 02/20/17 02:25 PM
There are a variety of factors that are involved in getting your mortgage approved, but few things will have more impact than your FICO score and the credit history that goes along with it. Instead of leaving your score up to chance when submitting your application, here are a few ways that you can boost your financial well-being. Put More On Your Card It's important to put purchases on your credit card that you can afford to pay off consistently. But many people are not aware that how much debt you owe can actually contribute in a positive way to your credit … (1 comments)
credit scores: 3 Things That Determine Your Mortgage Interest Rate
- 09/20/16 05:51 AM
When you begin shopping for a home mortgage, you may be drawn to advertisements for ultra-low interest rates. These may be rates that seem too good to be true. However, in many cases, you may be unpleasantly surprised and even disheartened to learn that you do not qualify for the advertised rate. You can structure your loan in a more advantageous way by learning more about the factors that influence your interest rate. Your Credit Rating One of the most important factors that influence an interest rate is your credit score. Lenders have different credit score requirements, but most have a tiered … (0 comments)
credit scores: 3 Important Credit Considerations Before You Apply For A Mortgage
- 02/11/14 12:01 AM
Before applying for a mortgage, borrowers need to build a plan for how they are going to manage their credit both going into the mortgage process and as they navigate through it. Lenders like to know that borrowers have a strong likelihood of repaying the loans they take out and, as such, look carefully at an applicant's credit. Here are three must-dos that can help an applicant turn into a home owner. Pre-Checking Credit Reports Before even starting the home loan application process, borrowers are well served to check their own credit reports and see what appears. If everything is correct, … (2 comments)
For home buyers in Colorado Springs, Woodland Park 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 … (2 comments)
NMLS ID: 247026
Colorado Mortgage License: 100019059
Benchmark Mortgage, Ark-La-Tex Financial Services, LLC NMLS ID 2143. Equal Housing Opportunity. This advertisement is for general information purposes only. Some products may not be available in all licensed locations. Information, rates, and pricing are subject to change without prior notice at the sole discretion of Ark-La-Tex Financial Services, LLC. All loan programs subject to borrowers meeting appropriate underwriting conditions. This is not a commitment to lend. Other restrictions may apply. Colorado Mortgage Company Registrant – Regulated by The Division of Real Estate #2143
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