Improving your credit score - Directions Equity Home Loan

How can you improve your credit scores?

After we pull your "merged" credit report (at no cost to you), we will contact you to review all the entries. It is imperative to assure that the information each of the three credit reporting bureaus has on you is accurate. Although you cannot improve your scores instaneously, you can use the "rapid rescore" option to dispute or update information, and improve your scores in about 7-10 days. We have access to a program that gives approximate increases to be gained by paying down your accounts.

Don't let another lender turn you away because of your credit scores! We might be able to bring them up, or work out a plan of action to improve them over time. But you have to call us first to find out!

You have probably heard that having your credit report pulled can lower your scores, and that is true. . .to a certain extent. However, a series of requests in relation to getting a mortgage or car loan are not treated the same as a number of credit card requests in a limited time. This is because the scoring models recognize that people shop around for the best mortgage and car loans.

Unsolicited credit card solicitations in the mail don't count against your credit report, so don't worry.

Scores are based on many aspects of your credit history, including the age of accounts, types of accounts, payment history, and number of accounts, just to name a few.

Late payments work against you. It's extremely important to pay bills on time, even if it's only the monthly payment.

Don't "max out" your credit lines. Being all "charged up" on your revolving accounts can cost you many points.

Don't close accounts before shopping for your home. Having little or no available credit can leave you with no score. No recent credit gives old derogatory accounts more weight, lowering your scores.

Wait to pay off any collection accounts before consulting with us.

These are just a few ideas to help you improve your score.

Call us at 210-842-4185 so that we can pull your credit report, and analyze your scores.

Our Mission is to help you find the best mortgage program for your short and long-term goals. The loan process can be intimidating and frustrating, and there are many new disclosure forms that can be confusing. Barbara and Don Coker promise a level of personal service that you can't get through an anonymous internet lender. We are Texas residents, and both Affiliates of the Year at the San Antonio Board of Realtors. Our 25+ years of service to Texas Homeowners speaks to our commitment and professionalism. Call us at 210-842-4185 for honest advice. We are here for you!