It All Starts With Your Credit Scores
In 2003 Congress passed legislation giving all consumers the right to request and receive one free credit report per year from the three national repositories as seen below:
Equifax (www.equifax.com)
Experian (www.experian.com)
TransUnion (www.transunion.com)
FREE CREDIT REPORTS are now available although you should know it is access to usually one report only not all three and no credit scores. Credit scores are what is needed to get any loan, mortgage, car loan, credit cards, and other loans. You can get more information about this at the links below:
Free consumer access to credit reports
All lending agencies use the FICO credit scores to determine what type of loan and interest rate you qualify for. A higher credit score means you will qualify for a lower interest rate loan and better loan programs. If you are considering refinancing or buying a home and need a loan we seriously suggest you start by pulling your own credit report at the FICO link below.
Rate and Monthly Payment
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From the FICO link above start with the following:
The Must-Have
All 3 scores and 3 online credit reports from TransUnion, Experian, and Equifax.
| > | More Info |
| > | Sample |
| > | Why
you need all 3 scores |
$44.85
You should also look at:
Understanding Credit Scoring -17 Page Booklet
Learn about the five areas of credit scoring and what you can do to improve your credit score.
| > | Download PDF (385k) |
Lending agencies base the interest rates and loan programs you qualify for on your middle credit score, from the three national repositories as seen above. If you are married and the loan depends on both of your incomes, which is usually the case, they pick the spouse with the lowest credit score and use the middle score of that spouse. This is why it is very important to pull the credit scores for both you and your spouse and start working on increasing those scores from now on. This will not be the last time you go for a loan. Your FICO credit score is used for all loans, cars, credit cards, educational loans, and mortgage loans. Making twice as much money as you do now makes very little difference compared to paying off your debts, paying all bills on time, and cleaning up any credit issues that should not be on your report. The jump from a middle score of 670 to 680 is the area where many good rates and programs begin to happen and it just gets better the higher the score.
Pre-Paid Credit Cards
All it takes is $44.85 to pull your scores and reports, as mentioned above. If you do not have a credit card to pull your scores and reports you can purchase a prepaid credit card just like a prepaid phone card at one of your local stores. Here are just a few links found from a www.google.com search on prepaid credit cards.
http://www.rlrouse.com/prepaid-credit-cards.html
http://www.westernunion.com/info/osPrepaidMC.asp
http://www.creditcardcatalog.com/prepaidcreditcards/
http://beginnersinvest.about.com/od/prepaidcards/
Did you know you can get your credit reports and credit monitoring from Pre-Paid Legal. This is another avenue you should seriously consider. Why pay the same price when you could have so much more. Check our link below and get back to us with any questions.
www.Pre-paidLegal.com/hub/danringwald
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Once you have looked over your credit
if you need help restoring it we have a solution, Academy Law Firm.
They are a licensed and bonded law firm and have no negative information
from the Better Business Bureau. Procrastinating on cleaning up your credit is the heart of the financial problem
when it comes to personal and financial freedom. Look over the information
below and click on any one of the graphic banners which will take you to their web site.
| About Academy |
| Academy
Law was established on the foundation of fair representation for all. Our
mission is:
To provide needed credit representation at an affordable rate in order to help individuals and families rebuild a strong credit foundation upon which to build the best possible future. We Are A Law Firm Whom You Can Trust Our Experience Means Effective And
Professional Service For You A Personal Paralegal Means Faster Results! We understand how important a good credit rating is to you in today's world. Let us assist you and your family to a better financial future!
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If all else fails and there is no other way around it you may want to seek help from the company at the link below.
If you need to check out your credit at MyFICO or get help from Academy Law Firm please do so. Once you are ready contact us here at National Home Buyers to get some clear directions on a plan that will work for you. If you need a loan to purchase, refinance, commercial, or to build a home we have the loans and programs you need. We can provide you with a free mortgage analyses to find out what rates and programs are available for you. The process will take 15 or 20 minutes over the phone. From that point on you will know what you can do and just how much you will save in order to get the lowest possible monthly mortgage payment.
If you have any questions please call or email now. Thank you.