Credit scores can be a daunting thing, which is why we’re here to help make sense of it all. Your credit score has a big impact on your loan and interest rate, but it’s not the only factor. You should be aware that there are many different credit scoring models, so if you check your credit yourself, it might not be the same result as when we pull it. We use FICO 2, 4, and 5.
No matter how diligent people are about their credit scores, sometimes things happen outside of your control. For example, the Equifax Data Breach affected millions of Americans and impacted many people’s finances. It’s important to stay vigilant and pay attention to all of your accounts. This is especially true if you have debt, as defaulting on a loan can be particularly harmful to your credit score.
Did you know you can shop for a mortgage and rerun your credit within 30 days without your score being hurt? You don’t need to have your credit pulled every time you get a quote, although you do need it for full pre-approval.
Contact us for more info and/or a rate quote!