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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. FHA just introduced a new pricing structure for mortgage insurance which is credit score driven.
Envoy Mortgage wants our borrowers to have the best possible rate. Because of this, I'ld like to send you some valuable information on how to increase your credit scores and lower your credit costs for good. To receive this important data, click on the link below to subscribe for free (copy and paste it into your browser if the link does not work).
Click Here to Opt In for Free Credit Information
If you are in need of credit restoration
Receive a $200 rebate for signing up with the credit restoration company below. Your rebate will be issued to you once you have funded your new mortgage with Envoy Mortgage.
Individual: $179.00 Credit Report Analysis/Audit Fee. This will cover your account setup, which is the most expensive step in the process and you are not charged until that service has been performed. Then it will be $99.00 a month for the work done in the previous month.
Couples: $225.00 ($112.50 per person) Credit Report Analysis/Audit Fee . This will cover your account setup, which is the most expensive step in the process and you are not charged until that service has been performed. Then it will be $159.00 ($79.50 per person) a month for the work done in the previous month.
Results always happen within the first 45 days and your credit picture continues to improve month after month. There is no obligation to be with us for any specific period of time; it is a cancel at anytime program. This plan goes after all three bureaus simultaneously and there is no limit to the amount of accounts per letter. The amount of work that we do for you is different each month; you will find that we do much more work than the monthly payment you are paying, however we would not charge you any additional fees for the additional work.
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We do not limit the amount of work we do like the "small monthly fee" companies. As a result, we average one of the highest fix/deletion rates in the industry at over 45% in the first 45 days! |
How can you improve your credit score?
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.
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.
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.
