October 20th, 2023 1:01 PM by Cathy Heckman
WHAT DOES YOUR CREDIT SCORE SAY ABOUT YOU?
Cathy Heckman
Mortgage Contract Services
Well, it says a lot!!
Can you have a high score but have a negative item showing up? Yes, why this is may be because they are older items and you have built up more positive scores since that item was placed on your credit.
Does a carrying a balance on your credit card help? Not Really
Having a zero (0) balance will boost your score. They also say for credit utilization it is good to be below 25% of your overall available balance.
All lenders look at the content of your credit report. What do you have behind that curtain? It is always and I mean always best to sit down with your mortgage broker to go over your current credit details to make sure your windows are clean.