Understanding

your credit

What does your credit report say about you?

What does your credit say about you?

Not knowing what your credit report says about your finances may cost you more when trying to obtain a mortgage. Even those who pay everything on time might have an unaddressed credit issue that is hurting their credit! It is possible 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.

Mortgage Home Loans

What makes up your credit report?

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

What is reported?

A few of the items reported on your credit may include:

  • Credit Cards
  • Department store cards
  • Gas cards
  • Bank cards
  • Airline cards
  • Installment Loans
  • Mortgage loans
  • Auto loans
  • Student loans
  •  Utilities
  • Rent (sometimes)
  • Collections or judgements
  • Bankruptcies

What does your credit history look like?

Credit history is a record of the health of each reporting credit line. Your credit score is created from the list below.

Payment History

35%

Time Existing

15%

Debt

30%

Account Variety

10%

New Credit

10%

Nick Hoefert

Loan Officer  //  NMLS #418481

Nick graduated from the University of Illinois Champaign-Urbana with a degree in Political Science, minoring in Leadership Studies. It was here that he cultivated a passion for networking and philanthropy. He was an active member of his fraternity, helping to recruit new members. He worked with Illinithon to help support the Children’s Miracle Network, an organization that generates donations for children with terminal illnesses. As a Director of Fraternal and Panhellenic Recruitment, he was an integral part of a team that raised over $150,000 in donations for St. John’s Children’s Hospital in Springfield, IL.

nhoefert@homevantage.com(618) 670-3668
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