Your credit score is a three-digit number, usually between 300 and 850, that's based on the information in your credit report.

700 or higher is generally considered a good credit score, while 800 or higher is excellent.

1. Set up "minimum auto payment" on your all credit accounts to avoid the late payment.
2.  Use only 30% of your credit limit. Example: If your credit card limit is $10,000, then use only up to $3300. 

FREE Credit Report. Federal law (FACT ACT) allows you to:

• Get a free copy of your credit report every 12 months from each credit reporting company.
• Ensure that the information on all of your credit reports is correct and up to date.

visit: www.Annualcreditreport.com

3 steps to your free credit reports - Annual Credit Report.com.

  No impact to your score

Checking your own credit won’t lower your credit scores.

 Get Your Free Credit Score (No Credit Card Required) | Experian

7-Day $1 Trial — Feel Free to Cancel Anytime.

Checking your own credit will NOT harm it.

Get your $1 3-Bureau credit report with your 7-Day trial.

If you don't cancel during the trial period, you will be charged $19.95 per month. Feel free to cancel at any time; no partial month refunds.

visit: www.equifax.com 

The credit scores provided are based on the VantageScore® 3.0 model. Lenders use a variety of credit scores and are likely to use a credit score different from VantageScore® 3.0 to assess your creditworthiness.

Subscription price is $29.95 per month (plus tax where applicable). Cancel anytime.

visit: www.transunion.com 

Free Experian Dispute Form

dispute-form.pdf (experian.com)

To dispute an item on your Experian credit report by mail, print and fill out the online dispute form, which asks for information to verify your identity and allows you to note the specific items you're disputing and why you think they are incorrect. Then mail that form to Experian at P.O. Box 4500, Allen, TX 75013.

The dispute and investigation process cannot take more than 30 to 45 days, and most investigations are completed within a few weeks. Once the credit reporting agency has completed the investigation process, it is required to provide you with written results within five business days.

Disputes are an important tool to take control of your credit health. Managing your information is fast, easy, free and secure through the TransUnion Service Center.

visit: www.transunion.com 

Dispute information on your Equifax credit report

File or check on the status of a dispute for free.

visit: www.equifax.com

What is credit freeze?

If you want a free option to block lenders from checking your report in order to open a new account.

Is it free?

Yes. You can add or access your Credit Freeze at any time for free on the TransUnion Service Center.

 On the FICO® Score☉  8 scale of 300 to 850, one of the credit scores lenders most frequently use, a bad credit score is one below 670. More specifically, a score between 580 and 669 is considered fair, and one between 300 and 579 is poor. 

500 FHA (with 10% down payment

580 FHA (with 3.5% down payment)

580 USDA

620 CONVENTIONAL

620  VA

700 JUMBO

Source: Experian.com

1. Payment History: 35%

2. Amounts Owed: 30% - As your credit utilization ratio increases, your credit score may drop and lenders may see you as a potentially risky borrower.

3. Length of Credit History: 15%

Accounts you choose to close in good standing (meaning with no late payments) remain on your credit report for as long as 10 years

4. Credit Mix: 10%

5. New Credit: 10%

 Hard inquiries on the same type of loan made within a short period of time (two weeks to be safe) and consider them as one inquiry.  Note that hard inquiries made in relation to credit card applications don't get this same treatment: Each inquiry is considered separately, and can have a bigger impact if you apply for several cards in a short time span. Your credit will usually decrease less than five points for an inquiry, and if you keep up with your bills, your score will typically rebound within a few months.

When a company checks your credit report when you apply for new credit, such as a credit card or a loan, the process is called a "hard inquiry." This credit check remains on your credit for 2 years but has a short-term impact. After a few months, the impact to your credit scores should start to decrease. If you have multiple credit checks, outside of rate shopping, the impact to your credit scores could be greater.

Inquiries remain on your credit report for two years

Ways to dispute Information on Your Credit Report - Experian

TransUnion and Equifax have their own processes for disputing credit reports, but Experian provides three methods for submitting disputes:

• Online: Get access to your Experian credit report and initiate a dispute at the Experian Dispute Center (more on that below). There is no cost to you for using this service.
• By phone: To initiate a dispute by phone, you'll call the number displayed on your Experian credit report. If you'd like to have a copy of your credit report delivered to you by mail, call 866-200-6020.
• By mail: You can dispute without a credit report by writing to Experian, P.O. Box 4500, Allen, TX 75013. (Printing out Dispute by Mail instructions can streamline the process; you can also scan the completed form and submit it electronically to Experian.com/upload).

How to file dispute with Transunion ?

Dispute 

EQUIFAX DISPUTE

Dispute information on your Equifax credit report | File or check on the status of a dispute for free.

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• Closing a credit card will reduce your available credit, which can increase your credit utilization ratio and cause your score to decrease. Another way that closing a credit card can impact your credit score is by reducing the length of your credit history. A closed account in good standing will remain on your credit report for 10 years and will continue to benefit your credit score. Closing your credit card may initially drop your scores—but it'll be temporary, and your scores will rebound as you continue healthy credit habits.

Source: Experian.com

You can't get a correctly reported collection account removed from your credit report early.

Even if you pay off the debt, the collection account will stay on your credit report for up to seven years. The timeline depends on when your debt first went delinquent, not whether you still owe the money.

However, if you notice an error with the collection account, you can file a dispute with each of the credit bureaus to have the account corrected or removed from your credit reports.

The original delinquency date is when your account first became 30 days past due

                                  IdentityTheft.gov

Credit Lock is the service provided by Credit Bureaus  to keep your credit file locked to prevent identity theft.

•    Receive alerts if someone tries to access your file.
• •  
  All credit applications in your name are blocked.
  •  
• Easily unlock when you're ready to apply for credit.
  •  
• Insurance companies and potential employers can still access your file.

Eligible members receive up to $1 million of zero-deductible identity theft insurance coverage upon enrollment, which covers the following:

• Unauthorized electronic fund transfers (EFT)
• Lost wages
• Private investigator costs
• Legal defense fees

* Our identity theft insurance is underwritten by insurance company subsidiaries or affiliates of American International Group, Inc. (AIG). The description herein is a summary and intended for informational purposes only and does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions.

Source: Experian.com

It’s absolutely free to freeze and unfreeze your credit, and it won’t affect your credit score

Click here for Transunion Credit Freeze Link

Many services offered by credit repair companies are available to you directly through TransUnion for FREE. Not all credit repair companies are bad, but some may be trying to take advantage of you. You can learn more about credit repair organizations and what to do if you’ve been misled by visiting the Federal Trade Commission website below.

Report to FTC - click here

They…

• Guarantee results
• Demand payment up front
• Have you dispute accurate information
• Advise you to ignore credit reporting agencies
• Don’t explain your rights to you
• Ask you to lie

 Step 1: You place a credit freeze on your Equifax credit report.

Step 2:  Your security freeze restricts access to your Equifax credit report for the purposes of extending credit in your name.

Step 3: When you want to apply for credit, you can temporarily lift or permanently remove your security freeze.

Click here for Equifax 

.

Ever wondered what information goes into your credit report, and what to look for as you’re reviewing it? A credit report is a summary of your unique financial history. The three nationwide credit bureaus collect and maintain a history of your credit activity as reported by the lenders and creditors you have accounts with. Your credit report includes important information about you, including:

• Personal information, such as your name, Social Security number, aliases or former names, current and former addresses, and sometimes your current and former employers;
• Account information, including payment history, account balances and limits, and dates the accounts were opened or closed. This includes credit accounts that may be in your name such as credit cards, mortgages, student loans, and vehicle loans;
• Bankruptcies and accounts in collections; and
• Inquiries, which lists the lenders and other companies that have accessed your credit report.

As you look at your credit report, keep the following in mind:

• In the personal information section of your credit report, is your name listed accurately, and your address up to date?
• In the account information portion of your credit report, are the accounts listed complete and accurate?
• If any of the information is inaccurate or incomplete, it is important to contact the lender or creditor that issued the account, or the nationwide credit bureau that issued the credit report.

$7000 as of Sept 2023. The average credit card interest is 28.05%. Source: Forbes 

1. Mortgage Interest.
2. Mortgage Points
3. Property Taxes
4. Residential Energy Credits - solar electric / small wind turbines / solar water heaters / 
5. Not deductable: Mortgage Principal / Down Payment Costs / Home Repairs / Utility Costs / Homeowners Association Fees/ Home, fire or flood insurance / Mortgage Insurance    
6. IRS Guide for Tax  Deductions

Yes. Different lenders has different loan programs. Contact us to learn more about it.

 Average new car payment is $725 Source: cnbc.

$28.950

With over 39 million people (according to July 2022 Census Bureau estimates), California is the nation’s most populous state—its population is much larger than that of second-place Texas (30 million) and third-place Florida (22 million).  Source: ppic.org

Our’s Bank Statement mortgage program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business. Borrowers do not have to own 100% of the business. Self-employed borrowers represent an underserved market in the mortgage industry. Our Bank Statement program provides a loan solution to help underserved credit-worthy self-employed borrowers who otherwise would not qualify for a home loan.

First, check your credit cards, car loan, student loan & shelter requirements. Then go with your gut feelings to either keep multiple payments or one payment which is possible by paying off all the debt into a mortgage loan. Use your home equity as your bank during this tough economic time.

Be ready for the another refinance when rates will be lower again in future.