Not knowing what your credit report says about your finances may cost you more when trying to obtain a mortgage. Even those who pay everything on time might have an unaddressed credit issue that is hurting their credit! It is possible for incorrect information to be reported on your credit report, and it is important to identify any issues and correct them before you apply for a mortgage.
What does your credit say about you?
What makes up your credit report?
Your credit score is a numerical representation of your trustworthiness in paying back debt. Each bureau will present you with a credit score based on the data they have.
What is reported?
A few of the items reported on your credit may include:
- Credit Cards
- Department store cards
- Gas cards
- Bank cards
- Airline cards
- Installment Loans
- Mortgage loans
- Auto loans
- Student loans
- Â Utilities
- Rent (sometimes)
- Collections or judgements
- Bankruptcies
What does your credit history look like?
Credit history is a record of the health of each reporting credit line. Your credit score is created from the list below.
HomeWise Capital Advisors
NMLS #891464
A house is more than a home. It’s a unique tool that can be used to provide for you and/or your family’s goals and other needs and we get your concerns. You want to know how much home you can really afford. At HomeWise Capital Advisors we are transforming the home financing process by combining our decades of mortgage lending experience with our capabilities as Series 65 licensed Financial Advisors. This unique blend of capabilities allows you to see the path ahead.
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