Good morning, Jodie Tanga here with your Mortgage Minute. Today's topic, understanding your credit score.
According to credit repair experts, paying off current collections may not always be the best action step for you when trying to qualify for a purchase or refinance. Since credit score has such a large impact on rate and loan program availability, the more you know about your credit score the better.
Your credit score is an indicator of how likely you are to default on a loan in the next 24 months. There are, often times, simple steps that can be taken that will significantly improve your chances for loan approval.
For more information on your credit score, call us at the Tanga Mortgage Team powered by Pacific Rim Mortgage at (808) 223-2761 or visit us on the web at www.pacrimmtg.com.