Is It Time To Check Your Credit Score

Is It Time To Check Your Credit Score?

Your credit score is the kind of thing that’s easy to forget about until you need it. It doesn’t seem to matter much, until it could mean getting approved for a loan and being denied. Fortunately, if you check your score and do what you can to improve it, you can avoid this predicament. You just have to give yourself enough time. But how long do you need?

Check Credit Score Ahead of Time

Well, according to MyFICO – the official consumer division of FICO – it depends on the type of financing. If you’re looking to finance a cell phone or get a new credit card, you don’t have much to worry about. A better score will get you better terms; however, it will be unlikely to hold you back. The stakes, however, are a bit different when you’re applying for a mortgage. If you’re asking to borrow hundreds of thousands of dollars, you have to be able to show you’re responsible with your money and able to pay off your debts. That’s why MyFICO suggests checking your score at least six months to a year before shopping for a new house. Saving yourself some time to raise your credit score will position you better for qualifying for a loan. In addition, doing so will help get you the best mortgage rate once you’re approved. Follow the link for more information.

A1 Mortgage

Here at A1 Mortgage, we know how important it is to choose the right house for you and your companion. We have the responsibility to provide you with the best products and the highest level of customer service possible. With hundreds of loan programs available, we tailor a loan specific to your mortgage needs. So come get pre-approved and start shopping for your dream home by clicking here!

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