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While
he spoke briefly about several subjects including
various loan programs and the importance of dealing with
full-time, professional Real Estate agents, Kris spoke
mainly about the importance of Credit Scores. As
one of the hand-outs said, "Forget the SATs, your Credit
Score is the most important grade you have."
Kris
explained that Credit Scores are calculated by three
credit reporting agencies, and that how you handle your
credit affects the numerical score assigned by each.
For example, if you're considering applying for a
mortgage, you don't want to go out and apply for credit
cards or purchase a new car. While this can
show that you can get the credit, it will adversely
affect your score because it will show more payments
that you're responsible for.
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Kris
went on to explain that you can check your own credit
report by contacting the three agencies directly or by
utilizing companies that will work with you to check or
repair your credit. Both of these ways will
involve some cost to you. He also explained that
when you're ready to apply for a mortgage, he can work
with you on a pre-qualification, and that would include
checking your credit and letting you know where you
stand with your scores. |
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