How To Maintain a HEALTHY Credit Score
Are you wondering if no credit is just as bad as poor credit? It can be. You need to have at least a few established credit accounts to develop a score, and you need a score for most loan programs. It's great to keep your spending under control by only using cash, but if you ultimately need to finance the purchase of a home, the sooner you solidify a good payment history the better. Without using credit, there's nothing for the bureaus to use as a basis for their scoring algorithms. A good mix makes for the best start. For example, get a bank overdraft credit line, a credit card and an installment loan, such as an auto or personal loan. Reach out to our local mortgage company at the Lake of the Ozarks today, and we'll be happy to answer any questions you may have. Call MHQ - Mortgage HeadQuarters today at (573) 302-9990. Recent tallies show a third of U.S. credit scores fall below 649. While not impossible, acquiring a mortgage loan at the Lake of the Ozarks will likely...