Your lender will look at your credit habits when considering your mortgage application. They will assess whether you pay your bills on time or if you tend to max out your credit card. These habits are reflected in your credit rating. In order for your lender to determine your borrowing profile, you’ll need two revolving sources of credit that are each at least two years old.
Worried that some sloppy financial habits might keep you from a great rate or even from getting a mortgage? Here’s the thing: you can give yourself some credit. This important factor in your mortgage negotiation is entirely within your control. Start developing good credit habits now. It doesn’t have to be a chore.
If you’re wondering how to polish up your credit, get in touch. We can review your situation and give you some tips about how to boost your credit rating. In fact, the sooner you get off on the right path, the better.
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Rasha Ingratta & Mortgage Associates
By Mortgage Intelligence
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