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Your Credit Score. By Your Name Your Company Name Date. A 3-digit number used by lenders to evaluate the risk associated with lending you money It is generated by a mathematical model created by Fair Isaac & Company in the 1950’s.

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By your name your company name date

Your Credit Score

ByYour Name

Your Company Name

Date


By your name your company name date

A 3-digit number used by lenders to evaluate the risk associated with lending you money

It is generated by a mathematical model created by Fair Isaac & Company in the 1950’s.

There are 3 Major Credit Bureaus, Equifax, Experian and Trans Union –You have 3 Scores

Scores range from 350-850

What is a Credit Score?


By your name your company name date

What is a Good Score? associated with lending you money

  • Above 720 = Excellent

  • = Good

  • = Fair

  • Below 620 = Poor


By your name your company name date

The Cost of Bad Credit associated with lending you money

HOW MUCH WOULD YOUR MIDDLE SCORE COST YOU IN A MORTGAGE LOAN TRANSACTION AT TODAYS RATES?

Home Financing: A 30-Year Fixed with a loan principal amount of $359,650*

  • If your score improves to 720-850, you couldsave an additional $318,329

  • If your score improves to 700-719, you couldsave an additional $308,047

  • If your score improves to 675-699, you could save an additional $263,094

  • If your score improves to 620-674, you could save an additional $163,422

A borrower who increases his or her credit score from 620 to 720+ can potentially save $884 per month on mortgage payments, $10,608 per year, and approximately $318,329 over the life of the 30-year loan.*


By your name your company name date

Five Factors of Credit Scoring associated with lending you money

Payment History

Late Pays

Collections

Charge-Offs

Repossessions

Foreclosures

Tax Liens

BK’s

Judgments

Length of History

New Credit

Soft Inquiries

Hard Inquiries

Types of Credit Used

A Mortgage Loan

An Auto Loan

2-3 Major Credit Cards

Amounts Owed

Credit Cards

Mortgage Loans

Auto Loans

HELOC’s

Installment Loans


By your name your company name date

1. associated with lending you moneyPayment History 35% – How do you pay your bills?

WHAT YOU SHOULD KNOW

  • A recent

  • Paying a collection

  • Being past due

  • Derogatory accounts do NOT

  • A divorce decree

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By your name your company name date

2. associated with lending you moneyAmounts Owed 30% – Managing Your Debt

WHAT YOU SHOULD KNOW

  • New debt

  • Keep balances below

  • When preparing to

  • Don’t consolidate

  • If you go over the limit on your credit card

  • HELOC’s

  • Do not close credit cards EXCEPT

  • USE YOUR CREDIT CARDS or

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By your name your company name date

3. associated with lending you moneyLength of History 15% 4. Mix of Credit 10%

WHAT YOU SHOULD KNOW

  • Hold onto

  • New credit users

  • The best mix of credit is

  • The type of credit card matters because

  • The best amount of credit cards to have is

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By your name your company name date

5. Inquiries – 10% associated with lending you money

WHAT YOU SHOULD KNOW

  • Soft vs. Hard Inquiries

  • 14 Day

  • Inquiries affect the score

  • Inquiries can cost between

  • You are Pre-Approved means

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By your name your company name date

START IMPROVING YOUR CREDIT SCORES TODAY! associated with lending you money

Step 1 -

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Step 2 -

Step 3-


By your name your company name date

Contact Us associated with lending you money

Your Company Name

Address

Phone

Fax

URL

Email