Credit Score Optimization

It’s simple, the higher your credit score, the lower your interest rate. Here are a few helpful hints about credit ratings and home loans:

• Depending on the loan program, there may be certain score tiers that offer slightly lower rates or cost. For example, our jumbo programs offer a slightly lower rate at a 720 and 740 score.
• A mortgage credit report score will be different than the credit score from one of the free credit report sites. This is a common frustration for borrowers when their mortgage credit report is pulled. The reason for the difference is that the two kinds of reports use different calculations to determine the score.
• If your score needs a boost, there may be several strategies available. Key One Capital Mortgage Corporation is happy to help.
• In 2016, mortgage credit score calculations will change. If you are a savvy borrower and understand what affects your score, make sure you research the new calculations so you can maximize your score. For example, paying off your credit card each month will now have a more positive impact.
• If you have old or incorrect items that are creating a negative credit affect, talk to Key One Capital Mortgage Corporation about having those items deleted.