LENDING A Hand With spring here and summer right around the corner, many people are preparing to take the leap and buy a home. According to Realtor.com, warmer months mean more activity for buyers in the market, with 50 percent of homes sold in the summer. For those beginning their search, the excitement might be eclipsed by the stress of navigating
Your Lender Can... Help You Raise Your Credit Score
new financial questions in need of answers. Instead of turning to a quick web search or the advice of friends and family outside of the industry, seeking the guidance of a lender has the power to save time and money — and to make sure that even a big financial decision doesn’t have to be a difficult one. At Shelter Mortgage, the team of lenders is passionate about empowering buyers to get the most for their dollars. From the first loan discussions to the closing table and even beyond, Shelter Mortgage is dedicated to being at the buyer’s side every step of the way, there to answer and ask the right questions.
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Your credit score is a numerical expression of your credit history, used by banks and lenders to predict the likelihood of loans being paid back in the future. It is often determined by payment history, amounts owed, length of history and credit types. Your lender can help you perform a credit score review and work with you to understand which actions can affect it and which loan products might be available to you. A credit review with your lender covers: Factors that may be negatively impacting your credit score: These can include closed accounts, credit activity, and debt-to-income ratio, along with other things may have lowered your credit score without you realizing it. Which debts to pay down: A careful examination will show any debts that can be paid down quickly to help raise your number. Negotiating a higher credit limit with your creditors: A larger gap between your balance and your limit can help increase your score. There are plenty of other factors that can affect your score, and each person’s circumstances are different. A lender can help you take a look at your particular circumstances and get creative to figure out what option might work best for you. A review and an honest discussion with a mortgage loan professional might even help you raise your score in a much shorter time than anticipated.
