• SCG

Credit Do's

Updated: Apr 1, 2019

In addition to your FICO score, we will also use other factors, such as your debt to income ratio, employment and credit history to determine your creditworthiness.  To improve your credit rating, DO the following:

Before anything else, DO call or email us for a credit review so we can go over all things “credit”.

Additional tips:

If you have errors on your credit report, correct them.  We can help you with this. It is one of the fastest ways to raise your credit score.  

If you have any high balances on credit cards, reduce them.  This is another fast way to improve your credit rating.  The rule of thumb is to keep your balance at or below 30% of the credit limit (i.e. if your credit card’s limit $10,000, be sure to keep the balance below $3,000).  Before paying down any debt please call us, as it may NOT be the best move for your particular case.

If you’ve missed any bill payments, get current and stay current.  The longer your history of paying your bills on time, the better your credit score.

If you’re having trouble paying bills, contact your creditors or see a legitimate credit counselor.  Even though this won’t improve your credit score right away, if you start paying on time, your score will start to improve.

If you have balances on your credit cards, keep them low.  If you have a lot of outstanding debt it can hurt your credit rating.  Before paying down any debt please call us, as it may NOT be the best move for your particular case.

Use your credit cards, but manage them responsibly.  You can raise your credit score by having cards and installment loans that are paid on time.  In fact, people without credit cards are usually a higher risk than people who use their credit cards properly.

If you have more questions, please don’t hesitate to contact us — as your dedicated team of mortgage experts, we’re here to assist you with any questions or concerns. 

#credit #mortgage #loans #FICOscore #creditreport #creditimprovement #paybillsontime

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© 2020 by Scott Capital Group

185 Wythe Avenue Suite 94 – Brooklyn, NY 11249 · Tel: 212-228-2215 – Fax: 516-203-4538
3470 Wilshire Blvd, Suite 910 – Los Angeles, CA 90010 · Tel: 323-839-8531 – Fax: 323-908-0494

Company NMLS #876527 | Individual NMLS #182251

Registered Mortgage Broker-NYS Department of Financial Services - All mortgage loans arranged with third party providers. Licensed by the NJ Department of Banking and Insurance Website authorization by the New York State Department of Financial Services is pending. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site.