It can save you time and money – and give you a valuable insight on the impact of paying off or paying down accounts on your credit scores.
I’ll give you an example… Yesterday I had a borrower that was thinking about paying off his Chase credit card.
The card had a balance of $267, and his credit limit was $500. When I asked the “what if” program what would happen if he paid off the account – it said his TransUnion score would go down by 16 points. I know that doesn’t make much sense, but the fico system doesn’t make much sense.
…By the way – I closed a loan yesterday in just two and a half weeks. If you have a loan and need to close quickly – please contact me. I can probably help ya!
I hope you have a great day! Thanks for reading!