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%

Byron Schulte

Division President  //  NMLS #1406451

Byron grew up in Columbia, MO. He received his B.A. in Finance from Westminster College in Fulton, MO, where he also played soccer. He later went on to obtain an M.B.A. from the University of Illinois. Byron has lived in MO, IL, CO, AZ, and TX, but prefers the Centennial State, where he makes his home. He has always been passionate about real estate and very much enjoys helping people become homeowners. He has been involved in the mortgage industry since 2005. Byron is an avid skier, and along with his wife, two children, and golden retriever, enjoys all the outdoor activities that Colorado has to offer.

byron@drmconline.com(303) 525-0999
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Byron Schulte Mortgage