Understanding Credit Scores and Home Loans
Posted by Shawn Clayton on
A surprising number of Americans do not know their own credit scores, despite the power these numbers have. In a recent survey on a financial literacy site, almost 30% of respondents admitted that they didn't know their credit scores. The issue was most prevalent among those under 30 and those making less than $30,000 a year. While personal finance and credit can be intimidating, understanding this area can make all the difference in the dream of owning a home. Learning a bit more about where credit scores come from and how consumers can enhance theirs is a great place to start.
For informational purposes only. Always consult with a financial advisor before proceeding with any real estate transaction.
Common Scoring Methods
Even among…
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