San Diego, California
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Copyright © 2006 by Bob Schwartz San Diego real estate broker Certified Residential Specialist
Promotions Unlimited All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. | | Building Your CredibilityBy Bob Schwartz, CRS, GRI, San Diego real estate broker
Whether you are just getting into a new home or are looking for a tenth investment, your credit score is very significant. This plays a large part in helping you to qualify for the amount of money that you want and need. By properly managing your credit score, and knowing how it will tie into your investment, you can be sure to benefit from the points that you have.
Before you get into in a loan, you should check your credit score in order to make sure that you will have the ability to get the loan you really want. There are three key companies that rate your credit score, scoring you points for good credit and how your past has related to the credit that you have. The companies that you can get your credit report from are Equifax, Experian, and Transunion.
Credit scores will impact the loan you are offered because it helps you get pre-approved for a loan. Lender companies will also be more disposed to work with you if you have a better score. They will also have the ability to give you a higher amount of money. This usually means that you have been responsible with keeping up with your payments, have a good history, and have handled things such as late payments. For some, this is the only way that any loans will be approved. For others, various factors will be considered, such as financial stability, your income, and job status. Before even starting the process of finding real estate, you should make sure that these are in the correct state.
By totaling up the points you can also measure the abilities that will take place with your loan. Understanding the various factors of your credit score can help you to save time and money, as well as get you approved for the loan that you truly want. Simply adding it all together will be the place that you want to start in order to build your credibility.
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