THE TOP  CREDIT DO'S AND DON'TS DURING THE LOAN PROCESS

Your credit scores play a critical role in determining what home loan programs you qualify for and what the interest rate will be for you on the program we help determine is the best suited to meet your needs. Our number one priority is to provide you with the information and tools you need to help qualify for the very best , lowest cost mortgage possible. Please don't hesitate to call us with any questions.

• DON'T APPLY FOR NEW CREDIT OF ANY KIND
  Every time you have your credit pulled by a potential creditor or lender, you loose points from your credit score immediately. Depending on the elements in your current credit report, you could loose anywhere from 2-50 points for one hard inquiry.
   

• DON'T PAYOFF COLLECTIONS OR CHARGE-OFF'S
  Please do not attempt to payoff any debts, collections, or Charge-Off's during the loan process, unless advised by your Loan Officer. Paying collections will may decrease your credit score due to the date of last activity becoming recent.
   

• DON'T FILE FOR BANKRUPTCY
  Filing for bankruptcy will immediately lower your score 50-100 points, and will limit the loan programs available to you.
   

• DON'T MAX OUT OR OVER CHARGE ON YOU CREDIT CARD ACCOUNTS
  This is the fastest way to bring your score down 50-100 points. Try to keep your credit card balances below 30% of their available limit at all times during the loan process.
   

• DON'T CONSOLIDATE YOUR DEBT ONTO 1 OR 2 CREDIT CARDS
  It seems like it would be the smart thing to do, however, when you consolidate all of your debt onto one card, it appears that you are maxed out on that card, and the system will penalize you as mentioned above.
   

• DON'T DO ANYTHING THAT WILL CAUSE A RED FLAG TO BE RAISED BY THE CREDIT SYSTEM
  This would include adding new accounts, co-signing on a loan, changing your name or address with the bureaus.
   

• DO STAY CURRENT ON EXISTING ACCOUNTS
  Like your mortgage, and car payments. One 30 day late can cost you anywhere from 30-75 points.
   

• DO CONTINUE TO USE YOUR CREDIT AS NORMAL
  Red flags are raised easily with the scoring system. If it appears that you are changing your pattern it will raise a red flag, and your score could go down.
   

• DO CALL US
  Contact your Loan Officer with any questions that you may have regarding your credit during the loan process.
   

• DO SIGN UP WITH THE CREDIT BUREAUS
  Information about you credit can be found on line at Experian, Equifax, and Transunions websites, these sites will email you anytime their is a change on your credit report.