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Credit Repair

When trying to obtain financing for the purchase of a home, what is the most important number the banks look at?

The amount of money in your bank account of course! If you have the cash in the bank to buy the house you want, read no further. Most of us however, do not have a few hundred thousand dollars sitting in our checking accounts.  The banks therefore, must rely on the second most important number, your CREDIT SCORE.

Your credit score is the accumulated trustworthiness (or infamy) of your name according to all the lenders who have ever given you a dollar.  Your VISA, your car payment, the big screen TV you financed for 48 months, these companies all report to the credit agencies. These credit agencies then assess your trustworthiness according to certain criteria.  Missing or late payments, bankruptcy or using too much credit can cause your score to fall rapidly.  Paying bills on time and keeping credit lines open will send your score closer to the top. 

If you have bad or only fair credit, you must take all measures to boost your score because a higher credit score usually means a lower interest rate on your new mortgage. A good credit score can lower the amount of interest you pay dramatically. There are many companies that charge exorbitant prices for credit repair.   



191 Sand Creek Rd Suite 212 Brentwood CA 94513
Office Phone: 855-200-7740 Fax: 925.516.3328 Cell Phone: 925-315-6300

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