What has the biggest impact on your credit score?

Your credit score is a very important three-digit number. It has a big impact on whether you qualify for a home loan and your mortgage rate. While a number of different factors can influence your credit score, one of the most important is how well you make payments on all of your credit obligations on time.

Late payments can significantly lower your credit score. If you have some late-payment issues in your credit history, work with your creditors to get back on the right track. The longer you pay your bills on time, the more your credit score should increase. With newer, more positive information in your report, older credit problems will affect your credit score less over time.

At Primary Residential Mortgage, we understand that most people do not have perfect credit. That’s why we offer a wide variety of lending programs. Credit score questions? We’re here to provide answers! Go here to learn more about us.