Understanding Credit Scores

How Do I Get a Better Credit Score?

Your credit score is a numerical representation of your trustworthiness in paying back debt. Each bureau will present your with a credit score based on the data they have.

Factors That Influence Credit Scores

35% Payment History

30% Debt

15% Time Existing

10% Account Variety

10% New Credit

Credit history is a record of the “health” of each reporting credit line. Account variety means having a diverse set of account types, such as installment, mortgage, revolving, etc. New credit can show up from employment screening, utility providers, insurance related inquires, and other credit inquiries.

What Does Your Credit Score Say About You?

Shockingly, many people have never seen their credit report! Not knowing what your credit report says about your finances may cost you more when trying to obtain a mortgage.

It is very common for incorrect information to be reported on your Credit Report, and it is important to identify any issues and correct them before you apply for a mortgage.

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Credit Report Problems?

Fixing credit reporting issues, such as incorrect collections, late payments showing up when paid on time, and active accounts that are closed, can be fixed. The key is to identify any issues and work toward having them corrected. If you want to take action, the first step would be to call the bureaus at:

  • Equifax- 1-800-685-1111 or go to www.equifax.com
  • Experian- 1-888-397-3742 or go to www.experian.com
  • TransUnion- 1-800-916-8800 or go to www.transunion.com

About Us

Our team is ready to help you with so many services! With an office located in Chadds Ford, PA, we maintain a convenient local presence, while lending in the surrounding areas of GA, MD, VA, DC, PA, DE, NJ, KS and MO.

We provide cash out refinances for bill consolidation, home improvements, and other personal needs. We also offer Jumbo loans, Conventional loans, FHA, VA, USDA and other non-conventional loans.

Read More About Kevin Opdahl and LeaderOne Financial

Contact Kevin Opdahl 678-629-7395 Apply Online