Timely Payments Critical to Good Credit

Everyone wants a Great Credit Score.  One of the keys to reaching that goal is making on time payments (learn how to improve credit after late payments below). Just how important are on time payments?  How do late payments mathematically factor into your credit scores? Learn more about when negative information falls off your credit How Much do Late Payments Hurt My Credit Score? Considering that payment history makes up 35% of one's overall credit, it's safe to say late payments are … [Read more...]

Credit Card Balances and Your Credit

It's no secret - credit card balances are a major part of your credit score.  Most people know "the lower the balance the better."   Credit scores go up when credit card balances go down.  Pretty simple.  However, the science behind the credit scoring algorithms view or credit card balances is not so well known. Apply for a Home Loan Team@JeremyHouse.com 602.435.2149 How Your Credit Report Sees Credit Card Balances Credit scoring algorithms favor low credit card balances.  Kind … [Read more...]

Dealing with “Medical Payment Data” Collections

Dealing with a medical emergency is stressful enough.  Whats worse?  Finding a stubborn medical collection festering on your credit.  However, can you imagine finding a medical collection when applying for a new home loan? Apply for a Home Loan Team@JeremyHouse.com 602.435.2149 The Origin of a Medical Payment Data Collection Now, the brain wracking and backtracking begins.  First, you ask your self what doctor visit is the collection from?   Then you wonder, what collection company is … [Read more...]

Where Your Credit Score Comes From

It has been said credit is the 8th wonder of the world.   In many ways this is accurate.  For example, why would someones credit score drop when they close a card off?  On the surface, this makes little sense.  However, dig deeper and logic is behind why credit does what it does. 5 Major Components of Your Credit Score When broken down into it's basic components credit makes quite a bit of sense.  Understanding the dynamics behind how credit scores are generated helps Arizonans maximize their … [Read more...]

Alternative Credit & Home Loan Approval

When applying for a home loan with an Arizona Mortgage Lender, some buyers need to "beef" up their credit profile.   Due to the fact that Many borrowers have little credit history sprucing up credit sounds impossible to many.  However,  Alternative Credit can help those with slim credit profiles. Alternative Credit vs. Traditional Credit Traditional credit history refers to the credit data reported to the 3 major credit bureaus.  For example: Auto loans Credit cards Student loans … [Read more...]