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.
Michelle and her team made the process easier than I could have imagined
I own a home
The right amount of contact and communication
Michelle, Noelle, and Maxine took great care of us while we were purchasing our first home. They took extra time to answer all of our questions and explained everything in great detail so we knew what was happening every step of the way!
Michelle and the team were so helpful during the whole process, making it very easy for someone like myself to understand the whole house buying experience! ?
Michelle was very clear on what to expect and ran so many different financial scenarios for me, allowing me to make the best decision for me.