Give us Some Credit
When you start considering purchasing high priced items, your credit score can make you feel better about your purchase or be a point of contention. Either way it is an essential part of our economy. Without credit, lenders would have no scale by which to create standards and determine who should receive credit and who should not. And if we couldn’t borrow money, many people—including me, couldn’t ever hope to own a decent vehicle, much less a home. I’d be a bicycle-riding renter for the rest of my life!
“Credit Score” shouldn’t be a scary term because it allows you to have the things you want. And if it doesn’t, there are ways to improve your score so you can! There are many factors that help calculate your credit score, some being weighted more heavily than others. Three different credit bureaus assign and weigh these credit factors. And if that wasn’t enough to take in… there is a FICO score, a term that, though often used interchangeably with credit score, is not the same thing. With all the factors, rules and different credit bureaus running around, credit can be a hard topic to navigate but as I mentioned earlier, it is essential for you to have and in today’s world, to understand.
There is A LOT of information in our free credit guide which you can access online using this link: http://info.smcapproved.com/credit-guide But I will give you a little overview before you download it! It covers topics such as what a credit report is and how a credit score is determined. If you know your credit score, it tells you what a good range of credit is and how to improve bad or maintain your good credit!
If you have more questions or concerns please reach out to us at Stockton Mortgage, we’d love to help you make steps towards homeownership! Give us some credit; we know what we are talking about! (Do you see what I did there?)