|How To Get The Best Interest Rates|
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 at 740 or above. We wrote a post about what *not* to do to increase your credit score. And now, we are showing you an easy way to increase your credit score. Experian is one of the three credit reporting agencies (TransUnion and Equifax). Experian just introduced Experian Boost.
| What does Experian Boost do?|
If you have been making utility and telecom bill payments on time, Experian Boost will allow you to factor those payments into your credit files and instantly improve your credit scores.
How does it work?
1. Connect Experian with online banking to identify utility and telecommunications payments.
2. Consumer verifies the data and confirms they want it added to their Experian credit file, an updated FICO® Score is delivered in real time. That’s it!
What is so amazing about this?
1. The whole process takes about five minutes, and the resulting credit score boost is immediate.
2. It’s free!
3. According to Experian research, 75% of consumers with FICO® Scores below 680 saw an improvement in their credit scores with Experian Boost. And 10% of consumers who previously had a “thin file” (not enough credit history) became scoreable after taking advantage of Experian Boost.
To learn more, reach out to us today!