Call me at 480-800-8387.
Jimmy Vercellino is an experienced Phoenix mortgage lender. He and his team work hard to provide a timely, efficient and excellent home loan process for buyers. As a loan specialist, Jimmy manages the entire process for his clients, making the home buying experience a pleasure instead of filled with stress. Visit https://phxhomeloan.com/
Phoenix Mortgage Lenders Jimmy V NMLS# 1841695050 North 40th StreetPhoenix, AZ email@example.com
PHXHOMELOAN.COMHow to Use
to Build Credit
PHXHOMELOAN.COMHaving a poor or non-existent credit
history can make getting a home loan
You don’t need a perfect credit score
to get a loan approval, but you do need
to show financial responsibility.
PHXHOMELOAN.COMAs a renter, you might have been making
regular payments for years.
These unfortunately won’t usually show
up on your credit report unless you make
PHXHOMELOAN.COMRent reporting is a service that either you
or your landlord have to set up on your own.
Once you do, the major credit bureaus will
begin to include them in your official reports.
PHXHOMELOAN.COMUnderstand How Credit Bureaus
Use Rent Reports
PHXHOMELOAN.COMThe three major credit bureaus
responsible for compiling your
PHXHOMELOAN.COMThey include your credit score
which comes from either FICO
Whether or not reported rent payments
show up in your score depends upon
the scoring company.
PHXHOMELOAN.COMCurrently, FICO uses several
versions of their model.
This can impact how your score
Lenders who use older versions
might not see the rent payments
reflected in your score.
PHXHOMELOAN.COMFICO 9 and FICO 10 are updated
versions that do show reported payments.
Knowing which version is being
used to check your score can help
you see how much influence the
rent payments have on your standing.
PHXHOMELOAN.COMFind Out If Your Landlord Offers
PHXHOMELOAN.COMSome property managers currently
offer rent reporting.
They do so to help tenants stay
motivated for making regular
payments that build credit.
PHXHOMELOAN.COMThis amenity is usually free for tenants
but you will want to make sure to pay
your rent on time every month.
You also can ask your landlord to sign
up for a service if it is not included
as part of your rental package.
PHXHOMELOAN.COMCheck Into Independent
PHXHOMELOAN.COMNow that some credit bureaus