You need to know and should want to know your credit score
and what’s in your credit report. Your
credit affects more than just the rate you pay on your mortgage. It’s used as a resource for many
applications. Employers sometimes look at
your credit history as do most other creditors when you apply for other debt
and sometimes insurance rates are even affected by your credit score! It’s become one of the single most important
factors in determining your quality of life.
M.O.M. wants you to understand your credit report, what your
score is, how it changes and why. Each
of our customers receives a copy of your credit report and our loan officers
will take the time to go over it with you line by line.
You should monitor your credit because mistakes happen! You’d be surprised at how many times we find
errors on a report and unless you go through it with a fine tooth comb on a
regular basis, you won’t know!
If you’ve had credit problems in the past, education is your
best friend! Knowing what, how and why a
score goes up and down will help you re-establish your credit as quickly as
The best education we can give you is going through your
credit report with you, which we’ll do at no cost to you as part of our, “MOM
Commitment.” If you’d like to learn more
about credit scores you can log on to www.myfico.com and go to the Credit Education link.