Five tips to the raise your credit score

The "American dream" is a reality for more families than ever before. The US Department of housing and urban development (www.hud.gov) over 67.7 percent of Americans are homeowners now. This is the highest home ownership rate ever.

The chances of becoming a homeowner are significantly enhanced if you know your credit score are. Lenders use many factors in determining whether a loan and your Credit score to approve, is one of you.Lenders look at your income on the amount of your debt, your employment history and how much money are haben.Obwohl in reserves for emergency your Credit score only is a factor in determining if your loan is approved, it is important, and it's one that can improve.

Under the fair and accurate credit transactions Act have a free copy of your Credit report annually from each of the three national consumer credit companies claim auf.Zentral at http://www.annualcreditreport.com established. Get your Credit score (one from each of the companies) for a small fee.

Your Credit score is a "snapshot" your credit history which change frequently. It can be called your FICO score, since the three national consumer credit companies use software to determine the score by Fair Isaac and company developed. FICO scores range from 300 to 850 and the higher the score the better your chances of credit.According to MyFICO (a division of Fair Isaac and company) http://www.myfico.com integrates the national average 723.Dies doesn't mean is that if your Credit score is lower than the national average, you are not a homeowner. There are many loan programs available to allow the lower Credit score s. You can a higher interest rate on your mortgage numbers, but achieve the American dream of owning a home.

MyFICO says there are five factors, in calculating your Credit score represents 35% of the number verwendet.Ihr payment history. This is followed the amount to owe the 30 percent. The length of your credit history is 15 percent your FICO score and a new loan and the types of loans that use 10%. Knowing these factors help to improve your score.

Your payment history makes the most of your FICO score.Want your score to improve, which, how easy it can be to pay your bills on time. If you have missed payments, catch.In the course of time this will be your score verbessern.Je longer you pay your bills on time, the better your score.

A factor in determining your Credit score is the amount of debt you actually versus loan amount debt that will give you steht.Daher available payment your obligations your Credit score improve. She want, because you show well more credit available than you actually verwenden.Zahlung debt, while the paid debts actually close your score may violate not to close your unused credit cards.

To determine a credit history, you need at least a piece of Credit report-Ing for at least six months.So if you find that you need no Credit score, you find a way for the various credit card scams to see credit for a period of six months to schaffen.Obwohl must credit cards available to meet this need, is, it backed up.

Because your Credit score is a"snapshot," t0o opening many new accounts in a short time your Credit score is verletzt.Dies by age of the average account is reduced caused by all newly established credit.

If you credit (i.e. mortgage, auto loan or credit card number request) the company will be your credit report betrachten.Dies is called a credit request.Although too many credit inquiries can lower your Credit score, open new credit and pay for it in good time the overall score improve.You your own credit card, check, as long as you obtain your Credit report from an organization authorized credit report s of consumers, not your Credit score affects.

It is better to have credit cards and pay a mortgage loan or large rate debts on time, to have seen at any credit überhaupt.Ein lenders more than a small Kreditkarte.jedoch all types of credit, including paid and closed accounts that are used in calculating your credit score.

If your Credit score is low, the best way to your chances of becoming is often a homeowner to increase debt to pay through your time, and for a period of Zeit.Je longer you demonstrate your ability and willingness to pay your obligations, the greater the chances that are able to reach the "American dream" home.

Jim Campanella is the operations manager of fresh start financial services, a mortgage broker in rolling meadows, IL.

Since 1989, Jim is in the State and national professional associations/trade organizations in the mortgage industry has been tätig.IM year 2004 Jim Campanella as mortgage broker operations manager of the year by the Illinois Association of mortgage brokers anerkannt.Er has spoken on a number of mortgage related topics from coast to coast.

Fresh start financial services is a licensed mortgage broker in the States of IA, IL, WI and comes in CO, loans IN and mo.In 2003 captures the mortgage broker as the subprime mortgage broker of the year of the Illinois Association of mortgage brokers.

Jim and his family make their home in Rockton, IL.