A prime reason why so many people are dealing with the issue of low or bad credit score is the lack of awareness. Many people are completely unaware of what their credit score is until they are told by a lender that they cannot qualify for a mortgage due to bad credit score. Being aware of what credit score is and how it is determined can eliminate the stress and help you to achieve your financial goals by maintaining a good score.
Credits score is a number of three digits illustrating your financial history and offering lenders an insight of your credit management ability. Credit scores generally fall between the ranges of 600 to 750, where 700 is considered to show satisfactory credit management.
Factors considered for determining your credit score include:
Credit score is easy to improve and manage provided you are aware of what it includes and which are the different factors taken into consideration by lenders for assigning you a credit score. If you are unable to repair the credit score on your own, then taking professional assistance of a well recognized financial expert can prove helpful.
Ratebeat NMLS Number : NMLS NO1267188
Registered New York Mortgage Broker – All mortgage loans arranged with third party providers.
Figure: 7 TAC §80.200(b)
“consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the texas department of savings and mortgage lending, 2601 north lamar, suite 201, austin, texas 78705. complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. a toll-free consumer hotline is available at 1-877-276-5550. the department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. a written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. for more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.”