Credit scores range anywhere from 350-850 and are impacted by a range of factors.
Your number is determined by five combined factors to make up your personal score. Yes, your credit score is an important element to your home buying process, but even if your score is lower than desired, don’t give up! At Summit Funding, we have a team of knowledgeable loan officers who will work with you on your credit strengths and guide you through any weaknesses. Your new home is the ultimate finish line and we want to cross it with you.
This looks at what types of credit you have.
New applications for credit might cause you to be risky and lower your score.
How long your accounts have been open. If you are going to close an account, DO NOT close the oldest.
How active EACH of your accounts are will affect this portion of your score.
Making sure that you have your payments in full and on time.
The home buying process can be stressful, but Jon and his team made the process as smooth as possible! The communication was constant, answered all of my questions, and was a pleasure to work with.
The communication, I felt valued and important!
Jon was great at both anticipating our questions and providing us with the information we needed to make decisions. He also kept us apprised of the process and all next steps we needed to take.
Jon is GREAT!