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Are you looking to buy a new car, apply for a mortgage or pursue a new career opportunity anytime soon? Then you may also know that your ability to secure a loan, a low interest rate, and even that coveted new career position, is dependent upon a vital piece of financial information – your credit score.
Controlling your finances is a topic that many people think about but few talk about. There seems to be a stigma when it comes to talking about finances, no one wants someone else to know where they stand in their financial life. But having control of your finances is a significant part of leading a happy, healthy life. Having a healthy financial portfolio can help to open doors to all sorts of things in life, such as purchasing a new house, a new car, going on that vacation you have always dreamed of, etc.
Credit is important for something as big as buying your first house. Yes it's obvious, but it's often not obvious until it's right in front of your face. The younger generation of up-and-coming home buyers - labeled in the media as Millennial home buyers - seems to wear the labels of lazy, entitled and broke. Since they're typically recent college graduates, student loan debt weighs heavy on them. However, according to research from LinkedIn and Ipsos, this next generation is actually financially smarter than we give them credit for. Affluent Millennials save more from each paycheck than their Generation X counterparts. This means younger people are planning for the future.
Building or maintaining an acceptable credit score can be hard work. For those of us who don't deal with credit scores on a daily basis it can seem like a daunting task to improve our credit scores in order to qualify for a mortgage.
From junk email to pop-up ads to unsolicited phone calls ... the world of credit repair sure seems to be a shady place. Some of its reputation is earned. Many advertised credit repair services have taken advantage of consumers. Not all of these businesses are bad, but the industry is definitely tarnished. The problem is that some hopeful home buyers need some help with their credit scores. So... how do you find out the right answers to get your credit mortgage-ready? Watch our short video below for a few tips.
Credit repair is a common term in today's world. Unfortunately, it has a bad reputation. Many advertised credit repair services have turned out to be bad business for consumers. Also, credit repair isn't really what goes on when a licensed mortgage consultant helps you get your credit ready for a home loan. It's really rebuilding credit. You have to work on your credit score, rebuilding it when you have blemishes on your credit report. So ... how do you rebuild your credit and get it ready for a mortgage? We have a few tips in this episode of Crystal's Credit Corner.
Dealing with a FICO score while buying a home can be daunting. your credit score is a major factor when it comes to financing your home. So...why would it fall if you're "working" on it? There are several reasons your FICO score might dip, even when you're working to positively impact it. Watch our video below for a few credit tips. Why Did My FICO Score Drop?