Wayne Long's Blog: Columbus Ga Mortgage

We all want a great rate on our Mortgage.  To do that we need a great credit score.  It is more important now than ever!

1) Don't pay late!  30 days late on anything can really lower your credit score.  Approximately 35% of your credit score is based on your payment history.   If you pay on time every time you will have a much better score.  Even one late payment can lower your score up to 100 points.  

What if I already have late payments?  Stop paying late now.  The longer it has been since your last late payment the better off your score will be!  We can't do anything about the past but we can do something about the future. 

2) Keep your balances on credit cards below 30% of your credit limit.    Below 25% is even better.   About 30% of your credit…

     As Realtors we realize the importance of your credit score.  It along with your debt to income ratio are the two most important factors in determining your credit eligibility.   Your debt to income ratio shows the lender your ability to pay and your credit score gives the lender a picture of your credit repayment history.   The lender will be able to combine these two items along with some less important items and tell you how much you can borrow and what will be the best mortgage loan for you.   It is hard to improve your credit score overnight so it is important to start improving your FICO score now!  

1) Check your FICO score - You can request a free report, once a year, from the major credit reporting bureaus like Equifax.  You can also…