What Your Customers Don’t Know About Credit Can Hurt You
Myths, Tips and Secrets About Credit Scores, and How to Navigate the System To Get More Deals Done
Everyone knows that having good credit (or a good credit score) is important when applying for a mortgage, but beyond that, there is widespread misunderstanding of how credit reporting work. It is essential to understand, its impact on rates and the types of financing a borrower can qualify for, the impact of seemingly small and even large blips in your financial history, as well as many other holes in general knowledge and awareness.
Brokers want to help their clients to the extent that their financial affordability allows, but often encounter applicants whose credit literacy and resulting problems on their credit report prevent them from getting the best deal possible for them, and sometimes, from being able to help at all.
In this presentation, Ross will outline
- the top misconceptions that home buyers have about their credit
- tips and advice you can offer clients to make sure their credit score is in the best shape it can be before applying for financing
- how to navigate the credit reporting system to help clients fix errors, ensure relevant credit lines are fully and accurately reported, get full credit for the things they are doing right, and on occasion, quickly boost their scores to qualify for better terms
- actions that can help improve scores, and credit-harming services to be wary of
- how fixing credit has far ranging and often unexpected impact, from qualifying for car loans or leases, insurance pricing, getting the best credit cards, personal lines of credit, and sometimes even what jobs they qualify for
Using real scenarios, Ross will show how even people with damaged credit can get the best deals possible, whether they are new buyers, renewing an existing mortgage, applying for additional financing to do renovations or deal with other major life events, or fighting to keep a home they’ve lived in for 10 years.
Date: Monday, November 18
Time: 10:30 am – 11:15 am
Concierge Mortgage Group