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Basics Borrowers Should Know About Credit Scores

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Basics Borrowers Should Know About Credit Scores

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  1. Basics Borrowers Should Know About Credit Scores It is imperative for mortgage loan borrowers to know about their credit scores as it is an important determinant for loan application. A credit score represents a person’s creditworthiness based on the analysis of his credit transactions. Mortgage lenders use credit scores to determine eligibility of the borrower and the interest rate that can be offered. The credit score is based on core factors such as payment history, credit utilization, account types, etc. Timely repayments of existing loans or debts such as credit card debt is a great way to improve the credit score. Borrowers should request a copy of their credit report annually to ensure that the information about their scores is correct. 107 W. Hwy. 190 Copperas Cove, TX 76522 254-542-5100 2201 Trimmier Rd. Killeen, TX 76541 254-680-6158 3106 S. WS Young Dr., Bldg. D, Ste. 402 Killeen, TX 76542 254-953-7000 14641 S. Padre Island Dr., Ste. B Corpus Christi, TX 78418 361-949-4647 10961 Gateway Blvd. West, Ste. 200 El Paso, TX 79935 1980 E. Baseline Rd., Ste. 103, Tempe, AZ 85283 915-843-2681 480-752-3110 1320 N. Zaragoza Rd., Ste. 111 El Paso, TX 79936 915-858-1996 7348 W. Adams Ave., Ste. 200 Temple, TX 76502 254-771-0020 201 E. Central Texas Expwy., Ste. 1600 Harker Heights, TX 76548 254-680-6155 100 W. Central Texas Expwy., Ste. 300 Harker Heights, TX 76548 254-690-3765 www.fcmloans4u.com Image Source: Designed by Freepik

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