5 Things You Should Know About Credit

posted in: Uncategorized | 0

What We Can Do To Help You Grow Your Credit

One of the biggest aspects of buying a home and getting the best interest rate on the loan is your credit score. To get the best rates available and the lowest monthly payment you want your credit score to be 740 or above. We wrote a post on easy ways to increase your score. And now, we are sharing ways that we can help your credit score on our end.

Here are 5 things every Loan Originator can do to help clients with their credit scores:
1. Paid Tax Liens can be Removed
Paid (Released or satisfied) federal tax liens can be deleted from a credit report and all other public records within 30 days. 

2. Some Unpaid Tax Liens can be Deleted
Federal tax liens can also be deleted if they have balances of less than 25k with on time payments to the IRS. 

3. Add Authorized Users to Increase Scores
Adding authorized users can increase credit scores in as little as 3 weeks for free! No fees and no credit checks. Best of all, they cannot be denied. 

4. Fix Inaccurate or Additional Personal Information
90% of credit reports have additional personal information that is either inaccurate or dated. I’ve seen scenarios with six different names, two social security numbers and several addresses. This can be worked out while going through other credit-related issues. 

5. Add Secured Cards
Adding secured cards can help improve the credit profile and ultimately help a borrower get a loan approval. This needs to be structured a certain way but is extremely effective within a couple months.

To learn more, reach out to us today!