Your Credit and You

    The subject of credit scoring has become an increasingly hot topic, and for good reason. For many years, the general public only associated the concept of credit scoring with the need to purchase high-ticket items such as a new car or a home. Today, credit scoring goes much further.  Your credit score can affect your ability to get a good rate on commodities such as car insurance, cell phones, or even determine whether or not you get the job that you want. Indeed, the financial snapshot provided by the credit score has also become a gauge for many employers, especially those who seek to place employees in a position of financial responsibility.

    In the lending industry, the subject of credit and how it affects the consumer can be narrowed down to 2 major categories:

    Most lending products gauge a customer’s eligibility on these two aspects of an entire credit report.  For example, an interest rate for a customer with a 700 middle score and zero late payments on their mortgage may be one or two percentage points better than a customer with a 590 middle score and has one late mortgage payments in the last 12 months.

    Your Mortgage Banker at Liberty National Funding will be happy to assess your situation and how it fits into the lending products that are available 

Please review the following sections for additional information :

:How your credit score is created:
:How to improve your credit:
:The History of Credit Scoring:

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