Buyer & Seller Tips 

credIT scores

Today, most mortgage lenders use consumer credit scores as the key measure for evaluating borrowers. A credit score is an objective appraisal of your credit risk, based on past credit activity. Scores range from a low of 300 to a high of 850, and lenders equate a higher score with less risk – and better terms for the borrower. Since your credit score is based on several factors, including your payment history, outstanding credit obligations and the length of time you have these obligations, there are steps you can take to maintain a high score or improve a low score.

• Pay bills on time.
• Maintain low balances on credit cards and other revolving credit.
• Pay off debt rather than moving it from one card to another.
• Apply for and open new credit accounts only as needed.
• Maintain some open credit.
• If you miss payments or run into problems, take steps to re-establish a good track record as soon as possible.
• Contact a professional financial planner for a long term plan.


For more information on credit scores, visit MyFico and TrueCredit

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