Eric Metzler
Sr. Mortgage Banker
651-552-3692
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Your
Credit Report
Is More Important Than You
May Think
 Perhaps
the most important factor in
qualifying for a home loan is
your credit.
Companies
such as Experian, TransUnion and
Equifax routinely collect and
maintain information from credit
card companies, banks, department
stores, etc., about your payment
history, and use it to compile
your credit report. In addition,
they also collect information
from collection agencies, county,
state and federal governments, to
report items such as collection
accounts, judgments and
bankruptcies.
Credit
Risk Score?
Some
credit grantors make hundreds
– even thousands – of
credit granting decisions every
day.
To
help them make those decisions
faster and more objectively, they
rely on a computerized process
that results in a risk score (or
credit score).
Your
credit score is often a major
factor in qualifying for credit.
Lenders can obtain a computerized
credit score when they pull your
credit. This score is a number
which represents an applicant's
potential credit worthiness.
Although credit scoring has
existed for many years, it is
gaining popularity in mortgage
lending. Many loans are granted
or denied on the basis of your
credit risk score.
Many
times, information is reported
incorrectly on your credit
reports. A copy of your
credit report can be obtained by
clicking the links above.
There is a dispute process that
allows you to question the
accuracy of items on your report,
if you feel any items are
improperly reported.
DO
YOU KNOW YOUR PERSONAL CREDIT
SCORE?
In accordance with the FAIR ACT,
when applying
us, we will always be happy to share your score
with you,
along with the top four factors which have
affected your score.
WE CAN HELP
With our advanced technology, we can tell
you exactly what your credit score will be in
the future. It's called the "What If Simulator".
What if you pay off this credit card, what if
you get a late payment removed, what if you pay
that old collection account. Call
today, and find out "What if?"
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