Yesterday, I came across a great article on lending and the importance of credit scores. It was written by Stephan Varteresian, a mortgage broker at Secure Mortgage Corp, in Gardner and Milford, Massachusetts.

Credit scoring is a big mystery to most people. There are numerous questions that encompass the credit score phenomena.

* What is a credit score? Why is it so important?
* Who creates credit scores? How are they calculated?
* Who uses my credit score?
* What can I do to ensure my credit stays in good standing?
* What does a good credit score do for me?

It’s questions like these that prompted me to share some very important and informative information with you. The following will help you understand the important role credit plays in today’s finance world.

Your credit score is a vital part of your credit health. When you’re applying for credit, whether it’s a credit card, an auto loan, a personal loan or a mortgage, lenders will want to evaluate your credit risk level. To understand your credit risk, most lenders will look at your credit score.

Your credit score influences the debt capacity that’s available to you and the terms that lenders will offer you. It’s a vital part of your credit health. Understanding credit-scoring methodology can help you manage your credit health more effectively.

Knowing that potential lenders evaluate your credit risk, you can take a proactive approach to lower your credit risk raising your scores over time. The better your credit score, the broader financial opportunities will be available to you.

More about Stephan:

John, I do all types of financing; residential, commercial, construction/rehab and hard money. I even do mobile home financing. [I send my clients emails] that are designed to highlight programs. Very valuable stuff …

If you want to learn more about Stephan or sign-up for his emails, visit his website.

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Updated:  1st Q 2018

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