Credit scores are the most important piece of the home buying process as it affects your interest rate, housing payment and ultimately how much home you can afford to purchase. In this episode, we discuss the relationship between credit scores and interest rates, as well as the different loan options available based on credit scores. The conversation also covers the importance of compensating factors and how to improve credit scores for home buying. It delves into the concept of credit utilization and the benefits of becoming an authorized user on someone else's account. The conversation also addresses the impact of paying off collections and the option to add non-traditional credit as we help you become The Educated HomeBuyer.

How To Increase Your Preapproval When Buying A House ⏩Watch This Next ⏩ https://youtu.be/c79hNpA2Gf4

HOME BUYER RESOURCES:

✅ - Get connected with us or to a local expert in your market at http://www.theeducatedhomebuyer.com/expert

🎙- The Educated Home Buyer Podcast - @theeducatedhomebuyer
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📩 - info@theeducatedhomebuyer.com

Chapters

00:00 The Impact of Credit on Home Buying
02:14 Credit Scores and Interest Rates
03:05 Credit Scores and Loan Options
05:27 Compensating Factors and Credit Scores
06:43 Improving Credit Scores for Home Buying
10:38 Utilization and Credit Scores
12:15 Authorized Users and Credit Scores
13:35 Paying Off Collections and Credit Scores
16:09 Adding Non-Traditional Credit
19:37 Inaccurate Information and Collection Accounts
22:44 Building Credit with Rent and Cell Phone Payments
25:37 Rapid Rescore and Improving Credit Scores
02:30 Defining the Problem
08:45 Causes of the Problem
15:20 Impact on Society
22:10 Current Solutions
29:50 Challenges and Limitations
36:15 Future Possibilities
41:26 Conclusion

Connect with me 👇 Jeb Smith (huntington beach Realtor/orange county real estate) DRE 01407449 Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith
➡Y O U T U B E ➳https://www.youtube.com/c/JebSmith

Connect with me 👇
Josh Lewis (California Certified Mortgage Consultant)
NMLS ID: 234220 | CA DRE: 01209148
United American Mortgage | NMLS ID: 1942
➡I N S T A G R A M ➳ https://www.instagram.com/borrowsmartjosh
➡Y O U T U B E ➳https://www.youtube.com/c/buywiseborrowsmart

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