1.1 – Credit Scores 101

Опубликовано: 23 Декабрь 2024
на канале: Low VA Rates

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For first-time homebuyers, credit scores can seem complex. Because your credit score is one of the main elements lenders look at when you apply for a home loan, it's important that you understand how they work and what you can do to improve yours.

Credit scores reflect five different factors, all of which help prove to lenders that you're to pay back your debts. If you want to find out what your score is, and the exact items influencing it, you can get a free credit report once a year from any of the three credit bureaus. This report can help you understand areas that might need improvement so you have a better idea of what you can do to increase your credit score.

In this video, Eric gives a crash course on credit scores, including how they're used by VA lenders, what factors influence your score, and, of course, steps you can take to make yours even better.

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This video is not intended for residents or homeowners in the states of WA, NY or MA.

Low VA Rates NMLS# 1109426 Archived video notice: This video is not current and may contain content that, while accurate when recorded, may not reflect current market conditions. As is customary on the YouTube platform, older videos remain in our account for transparency and statistical purposes, and we do not necessarily have control over which older archived videos YouTube’s algorithm may suggest for you. For that reason, please always check the date of a video to ensure that it is dated recently before relying on its contents. The mortgage market is very dynamic and laws, regulations, rates, and programs are always changing. If we have a more up-to-date video on the same subject, you should be able to sort our videos by date uploaded on our main channel landing page:    / lowvarates  . This video is not applicable to borrowers in the State of Washington.
This video is not intended for residents or homeowners in the states of NY or MA.