Secrets To Maximize Your Credit Score – #1 Credit Cards May 22, 2007
Posted by Scott Nugent in credit scores, mortgages.add a comment
Everyone who is credit savvy realize that high balances on their credit cards adversley affect credit scores. Having maxed credit cards can raise your interest rate or even prohibit the purchase or refi of a home mortgage loan. The question is how can you maximize the positive effect credit cards have on your credit report? The solution is simple really. Here’s how:
1. Add up all of the balances on all of your credit cards.
2. Add up all of the credit limits.
3. Divide the balances by the limits.
If the number you get is more than .30 or 30%, your credit score is suffering from having a really high debt ratio.
If the number you get is less than .3 or 30%, you are maximizing the affect credit cards have on your credit score.
Obviously, any ratio below .3 or 30% is also going to make your credit score even better, as having a 0% ratio maximizes your score the most.
Don’t forget…all the wholesale mortgage loan and real estate information you need is located in one easy and convenient place http://www.orlandomortgage.cc
CHEERS !
How Much Is Your Home Worth? May 16, 2007
Posted by Scott Nugent in mortgages.add a comment
Are you refinancing? Need to get an appraisal done for your home?
There are many great sites on the internet that are free and you can use to find out the value of your home. These sites can show you the values of other homes in your area as well as comparables that appraisers use to give your home a final appraisal value. Here are two of my favorite sites that I use when I refinanced myself, and I use on a daily basis to estimate home values. CHEERS!
