Homes are moving super fast. This house was no exception... If you are looking for a home in this area, we will have an agent get a hold of you shortly, and send you everything that is still
The 5 Key Components Of A Credit Score
Dated: July 24 2018
There are five key components of a credit report that affect your overall score.
1. Delinquencies- Making your payments on time is important for having a good credit score. This is 35% of your credit score.
2. Debt- The amount of debt you have impacts your credit score more than many consumers realize, your mortgage and auto loans are include in this factor but your credit card debt is really the most important. The balances you carry versus your available credit, is your revolving utilization rate. This is 30% of your credit score.
3. Age- Older you get more points you will score in the category. Never close old establish credit cards. This will shorten the length of your credit history and in turn cost mix is 3-5 revolving accounts (credit cards) and 1-2 installment account (auto mortgage) This is 10% of the factor of your credit score.
5. Inquiries- When you apply for credit, the lender will check your credit. This could negatively impact your score. Also when a potential employer checks your credit, this won't negatively impact your score. This is 10% of your credit score.
Remember keeping track of your credit score allows you to stay on top of your credit and you will be able to create more opportunities when it comes time to purchase a home. Anyone looking for a home give me a call! Jim Yungner 623.745.6612
Latest Blog Posts
If you are reading this Post, this blog, whatever it is, you probably have a little interest in getting into a home that you will eventually buy. I don't blame you, people throw away 10's of