Don’t let a credit score prevent you from applying for a mortgage.

Did you know?

The average makeup of U.S. Credit Scores:

SCORE 300-649 650-749 750-850
Percentage of U.S. Credit Scores 30% 30% 40%


Here are some best practice tips for establishing and maintaining high ratings!

  1. Don’t close old accounts. Good payment records for old accounts are beneficial to your credit score. Use the cards occasionally, but conservatively. Keep your cards active. VIP loan officers can run credit scenarios to project your potential credit score and guide your next steps to home financing.
  2. Keep a HIGH credit line and a LOW balance. For example, a balance that’s 30% of your limit is an appropriate proportion *Ex: a $5,000 credit limit with a balance below $1,500.
  3. Don’t open store credit cards to save on a purchase. New accounts may lower your score and make payments challenging to manage.
  4. Don’t open new accounts to transfer balances for an introductory rate. These offers may have consumer “traps” or have the potential to lower your credit score.
  5. Maintain a variety of account types. Examples of account types are revolving, installment, and secured financing. Different account types plus excellent payment records could mean a higher credit score.
  6. Borrow only what you can afford to pay and make all your payments on time.
  7. Avoid excessive credit inquiries
  8. Keep an “emergency account” to pay for unexpected expenses.
  9. Check your report and contact your credit card company to remove any incorrect information.

Don’t hesitate to reach out if you still need support or have questions about managing your credit; we will put you in contact with a Loan Officer.