Credit Scores - Know Yours!

Don't be one of the many buyers that are unsure of their standing in the credit department! Not knowing could lead to an agreement to pay a higher interest rate. Knowing your credit score could help you get the best interest rate available.

Most of those who believe their credit score is excellent are often correct. Many who are unsure of their score, are often surprised to find out that their credit actually is great or excellent. According to Experian.com, a score above 670 is considered good and a score above 740 is very good. To be considered exceptional, your credit score should be between the range of 800-850.

Credit scores are tools that lenders use to determine their decision to loan you the funds you will need to buy your home. Some people don't understand how scores are calculated. Credit scores are determined through a look at your payment history on loans and credit cards, your total debt and the amounts owed on all your debts, the length of your credit history and how many credit inquiries you have had. Many people think that having a late payment or two will ruin their credit score. However, this may not mean your score has changed enough to force you into a higher interest rate.

If your credit score is lower than you thought it should be, there may be some errors on your credit history. Most errors can be easily cleared up or eliminated with supporting documentation. At Homebuyer Reprsentation, we have had clients who have cleared up their credit and qualified for a loan in less than 30 days.

Part of our service is to guide you to those that can help you with your mortgage loan and with any credit repair that you might possibly need. A trustworthy mortgage professional will be able to help you review and prepare your credit file in advance. We will point you in the right direction and let you know if we think you are paying more for your loan than you should be.

Exclusive Buyers Agents do not list homes and will not ask you to limit your level of representation. They will be 100% on your side during the transaction, representing YOU, negotiating on YOUR behalf and protecting YOUR interests.

• Do you have excellent credit?
• Do you plan to purchase a $400,000+ home within 60 days?
• Do you have a good down payment, or are you paying cash for your next home?
• Do you want an agent on YOUR side throughout your transaction?
• Do you have questions about buying a home in the Salt Lake community?

Don't leave things to chance. Get YOUR OWN agent!

Call or text us at (801) 999-8889 today for a free consultation.

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