Credit scores are more important today than they have ever been. Borrowers with less than 740 credit scores will pay higher rates than those with lower scores for a conventional mortgage.
Envoy Mortgage wants our borrowers to have the best possible rate. Because of this, I would like to send you some valuable information on how to increase your credit scores and lower your credit costs for good. Credit repair or credit restoration is vital to fulfilling your financial goals.
To download an entire free credit restoration program... CLICK HERE.
Did You Know that one late payment can drop your score by 80 or more points? Has this happened to you? If your credit score is suffering in today’s economy, we can help.
If you are frustrated with your score and the many claims to help you, I am glad you found us.
Click the Image below to watch our online credit education videos!
The fact is that you must do something – doing nothing will only cost you thousands of dollars simply due to your damaged credit file or low score. Take action today, improve you life and save thousands of dollars!
If you have less than 2 open lines of credit, I would recommend that you get a credit card for your credit file. Not having an open revolving account is considered negative and is usually about a 40-60 point deduction in credit score. In general, having credit cards (and paying timely payments) will raise your score. Someone with no credit cards, for example, tends to be a higher risk than someone who has seasoned credit cards. It is very important to get this card because you have no other open, positive accounts. This will help you rebuild your credit.
Boost your score fast with a $5000 line of credit. Click on this banner and apply for a $5000 line of credit with not credit check and almost guaranteed approval. A one time $195 activation fee will be charged to your credit card upon clicking the "PROCESS APPLICATION" button below. A monthly fee of $19.95 will be debited from this card on the 1st of each month. Thats only $0.66 cents a day! Cancel and any time. This is perhaps the best method to optimize your credit score as it provides you a high limit and a low balance - that scores extra point with the credit bureaus.
If you do not have a credit card at this time and your scores are under 640, immediately apply for a secured credit card at your local credit union(usually the least expensive) or at one of the following banks: www.orchardbank.com or www.publicbankcard.com, or Applied Bank (800-771-7339). They will approve you instantly on line. I would suggest setting up an account with Conn’s (www.conns.com), make a small purchase and pay for 3-6 months. You might be required to make a small down payment, but it will be worth it. The day the credit card is reported to the credit bureaus, your scores will increase significantly.
For future reference, you always want to have at least two credit cards that are open on your credit. Remember with credit cards, you always want to keep your balance below 33% of the limit. Having maxed out credit cards can hinder your credit scores.
It's virtually impossible to change your score in the time between when most people decide to buy a home or refinance their mortgage and when they apply. So the short answer is, you really can't "on the spot." But there are strategies you can live with to make sure when you apply for a loan your score is as high as possible.
Make sure that the information each of the three credit reporting bureaus has on you is consistent and up to date. Order a copy of your credit report about once a year, and dispute any inaccuracies. You can get one free credit report every twelve months from each of the nationwide credit bureaus--Equifax, Experian, and TransUnion--by
You will need to provide certain information to access your report, such as your name, address, Social Security number, and date of birth.
You can order one, two, or all three reports at the same time, or you can request these reports at various times throughout the year. The option you choose will depend on the goal of your review. A report generated by one of the three major credit bureaus may not contain all of the information pertaining to your credit history. Therefore, if you want a complete view of your credit record at a particular moment, you should examine your report from each bureau at the same time. However, if you wish to detect errors and monitor changes in your credit profile over time, you may wish to review a single credit report every four months.
Note: Theoretically, if a series of credit reports is requested on your behalf during a limited amount of time, your score goes down until time passes without any inquiries. Changes in the law though have made "consumer-originating" credit report requests not count so much. Also, a series of requests in relation to getting a mortgage or car loan is not treated the same as a number of credit card requests in a limited time. This is because the credit bureaus, and lenders, realize that people request their own credit reports to keep up with what's on them, and smart consumers shop around for the best mortgage and car loans.
Unsolicited credit card solicitations in the mail don't count against your credit report, so don't worry. Credit bureaus may sell consumers' information, including names, addresses, and credit information, to creditors or insurers, who may then offer credit or insurance to you. You can have your name and address removed from these lists by opting-out of the listing. This will reduce the number of unsolicited offers you receive.
To opt-out, call 888-5-OPTOUT (888-567-8688) or visit www.optoutprescreen.com. You will need to provide certain information in order to opt-out, such as your name, address, Social Security number, and date of birth.
You have the ability to opt-out of receiving offers either for five years or permanently. If you want to opt-out permanently, you will need to fill-out, sign, and mail-in a form. The form is available by either calling the toll-free number or visiting the website.
You can reverse your opt-out decision at any time to start receiving offers of credit and insurance again by calling the toll-free phone number or visiting the website.
The two main components of your credit score are your payment history and the amounts you owe. Bankruptcy filings and foreclosures, which can stay on your credit report for as many as 10 years, can significantly lower your score. It's never a good idea to take on more credit than you can handle.
Late payments work against you. It's extremely important to pay bills on time, even if it's only the monthly payment.
Don't "max out" your credit lines. Since the size of the balance on your open accounts is a factor, lower balances are better.
It's said that by carefully managing your credit, it's possible to add as much as 50 points per year to your score.
Do you need to dispute an error on your credit report?
Envoy Mortgage Ltd. – Mortgage Banker Registration- #45300 COMPLAINTS REGARDING MORTGAGEBANKERS SHOULD BE SENT TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF MORTGAGE BANKERS . A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEB SITE AT WWW.SML.TEXAS.GOV
To download an entire free credit restoration program... 
The fact is that you must do something – doing nothing will only cost you thousands of dollars simply due to your damaged credit file or low score. Take action today, improve you life and save thousands of dollars!
. You will need to provide certain information in order to opt-out, such as your name, address, Social Security number, and date of birth.