Things that can affect your credit score

April 16, 2021 in Blog, Home Buyer Guide, Video Library

Credit scores range between 300 and 850. But scores above 620 are considered desirable for obtaining a mortgage. There are programs available with lower credit scores, but over 620 will allow you to obtain a conventional loan. The following will affect your score:

  1. ) Your Payment History-Making your payments on time is crucial to having a good credit score. Bankruptcy filing, liens, and collection activity also affect your history.
  2. How much you owe-If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. Keep your credit debt utilization to under 20% of your credit limit on each card.
  3. The length of your credit history-In general, the longer an account has been open, the more It helps your credit score.
  4. How much credit you have- New credit, whether in the form of installment plans or new credit cards, is considered more risky— even if you pay down the debt promptly.

Watch the video to learn more:

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About Me

About Me

Hi I'm Monica! I'm a Real Estate professional in love with houses, especially vintage houses. I even have my Historic Homes Specialist designation. I enjoy decorating and rehabbing and helping my clients create their dream home with inexpensive updates. I also love helping sellers get top dollar for their property by taking the dated out of their home and staging in a modern simplistic way. I'm also obsessed with Mid Century furniture, so if it doesn't fit in my house, you'll find it in my Etsy Shop. I enjoy coffee and thrift store shopping to look for items to repurpose and use in house. And of course anything vintage, I’m a bit of a June Cleaver. I’m a wife and a mom of teenage twins that I homeschool. I am currently a Realtor in San Antonio, TX, and a lender in both Texas & California. But if you are from Southern California don't worry I have connections, I also help educate all over the country about the home buying process and have a team of people that i work with to help you reach your goals. We moved to SATX from SOCAL in 2018 to simplify our life. I love it here and have helped several people relocate. Read More


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