Posts from January 8th, 2018
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8
A quick refresher on What to Know About Credit Scores
No need to push the panic button now that you want to buy a new home… Review this Quick Guide on Credit Scores and see how you stack up!
Credit scores range between 200 and 850, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:
Your payment history.
Did you pay your credit card bills on time? Bankruptcy filing, liens, and collection activity also affect your history.
How much you owe and where.
If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, spreading debt among several accounts can help you avoid approaching the maximum on any individual credit line.
The length of your credit history.
In general, the longer an account has bee...