Increasing Your Credit Scores
At The Mortgage Network increasing your scores is easy so do not go through life assuming you can’t get a better rate/term with your current credit due to some past struggles, when in fact simple and easy for us to help you!
1. Get to Know Your Credit Profile
We will review your current credit bureau with you and advise you on your next step, a plan that is individualized to you and your credit. If your credit score falls below 620, most lenders would view you as having poor credit. If your credit score is above 740, you generally have great credit. We offer purchase programs for those with a 580 score! Now that we know where you stand, let’s take a look at how to improve your credit…regardless if you are under 600 or at 710, you have room for improvement and with the higher scores the better the terms and rates will be for you!
2. About your credit score
2. Regardless of your credit scores it is common knowledge that the higher the scores the more favorable the terms you receive will be for a mortgage. to a car loan, to a credit card. Our computer module that will tell us exactly what you need to do to raise your scores 10, 24, or even 39 or more points. This could be as simple as getting a cash advance on one card to payoff or pay down the balance on others. We have been using this system for 8+ years now and we find it flawless in its accuracy!
3. Always Pay on Time
This seems like an obvious step, but it is worth repeating: your credit rating is mainly a reflection of your ability to pay on time. Even if you pay on time for several months in a row, then forget the next month, as a whole you have not succeeded in paying on time, and this will be reflected in your credit rating. Therefore, it’s important to remember not to just pay on time, but to “always” pay on time! Over time, this behavior will be rewarded with a better credit rating and more financial peace of mind.
Having a credit score less than what it could be can hinder your financing options and make your existing options less favorable. If this situation sounds familiar, make the call to The Mortgage Network at (513) 346 4070 to see what is best for you. No need to pay for a full service credit improvement company when we can resolve the matter right here for you. Overcoming bad credit can be a difficult task to undertake by yourself, with so many credit bureaus to deal with and details on your credit reports to sort through. That’s where a proven help like ours should always be your first step!