You credit score is what lenders use to determine if they will approve your greeneasylife.com mortgage loan and how much they will charge you for the financing. If you don't know what your credit score is you need to find out before applying for a mortgage. Here are several tips to help you improve your credit score and qualify for a better interest rate on your loan.
Your FICO credit score is a numerical representation of the state of your credit history. FICO score takes its name from the company that creates it, the Fair Isaac Corporation. This company evaluates the contents of your credit reports and using their proprietary scoring system assigns you a number, your credit score. This score determines if you will qualify for financing and how much this financing is going to cost you.
Your credit history is maintained by three separate companies and is frequently prone to errors. Before applying for a mortgage it is important to request copies of your credit reports from each credit agency and carefully review the records for errors. If you find errors it is extremely important to dispute any inaccurate information as this can drag your credit score down significantly.
Improving Your Credit Score
The best thing you can do to improve your credit score is to make all of your existing payments on time. Maintaining low balances on your credit cards and making the payments on time will boost your credit score over time. If you have negative information in your credit reports such as judgments or write-offs, it is important to settle with the creditor to have that information removed.
You can learn more about your FICO score and how to improve your financial situation before applying for a mortgage by registering for a free mortgage guidebook.
To get your free mortgage guidebook visit RefiAdvisor.com using the link below.
Louie Latour specializes in showing homeowners how to avoid common mortgage mistakes and predatory lenders. For a free copy of "refiadvisor.com Mortgage Refinancing: What You Need to Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com.
Claim your free guidebook today at: refiadvisor.com refiadvisor.com
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