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Credit cards & credit reports

6 0
03.06.2025

Its been a while since I wrote about the importance of your credit report. This topic popped up twice this week so I think a refresher is not a bad idea.

When we submit a mortgage application lenders look carefully for a few specific things:

Is the home you are looking to buy or refinance readily marketable / appeals to a wide range of potential buyers?

Do you have your down payment in order?

Do you have consistent income to repay your mortgage?

Does your overall financial profile show you manage yourself responsibly?

Does your credit report reflect a history of payments made on time and as agreed?

When they are reviewing your credit report they are also looking for a few specific things.

How long have you had active credit facilities (credit card/line of credit/mortgage........

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