Credit Reports 101
About The Class
This class will be an overview on the Mortgage FICO Credit Report and the different models used in the mortgage industry and the differences between a FICO Credit Report and the Consumer Credit Report. How the FICO score affects a borrowers ability to purchase a home with financing and even rent a home or apartment.
This is an opportunity for Realtors to obtain a good understanding of credit and how it impacts the home buying process.
We will discuss:
- Factors That Affect Your Scores - knowing what factors and types of accounts affect your credit score gives you the opportunity to improve it over time.
- Understanding a Tradeline - Understanding how tradelines work can give you a better idea of how to read your credit report and what lenders see when they check your credit.
- Statute of Limitations - All consumer debts, from credit card balances to medical bills, have limits on the number of years creditors have a legal right to sue you for payment.
- Varying Costs Due to Credit Rating - Scores range from approximately 300 to 850. When it comes to locking in an interest rate, the higher your score, the better the terms of credit you are likely to receive.
1 HR REALTOR ELECTIVE CE
TREC Education Provider License # 9969 | Course # 41686
Host A Class
If you would like to host this class for a group of Realtors, Financial Advisors, or business professionals click the link below to schedule a time that works for you.