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How to Improve Your Credit Scores and Rebuild Credit For Mortgage Approval
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Any of you who need a true five-star credit repair advisor, @Ali Aldiva Rubacalva is the top gun that is highly recommended by the team at GCA Mortgage Group. Aldiva Rubacalva is the owner and President of Recovery Credit Repair. Aldiva Rubacalva, who goes by Ali, goes above and beyond and is available seven days a week. Unlike other credit repair professionals, Ali Rubacalva uses the letter of the law to get her clients the best representation on repairing their credit and prepared for mortgage approval. Ali is not a person who will just dispute any derogatory credit tradelines like throwing darts with the hopes an accident will happen and the credit bureaus will remove it. Those days are way gone. Ali Rubacalva is an endorsed credit repair professional who is surrounded by third-party attorneys who are not afraid of suing the three major credit bureaus and creditors who violate consumer rights. Many credit bureaus are reporting erroneous items on consumer credit reports. Credit repair does not happen overnight, but with the right savvy knowledgeable professional, the consumer will prevail. Visit Ali at http://www.recoverycreditrepair.com
recoverycreditrepair.com
Recovery Credit Repair Leaders in Credit Repair Services at California
Recovery Credit Repair has assembled a diligent, caring, experienced team of pre-litigation professionals that will stand up for your rights. Laws are in place to help you reclaim your financial well-being—we're here to help.
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Kick OFF
kikoff.com
Kikoff Credit Builder | Build Credit Safely & Responsibly
Kikoff is the only credit building program intentionally designed to keep your utilization rate low. If you’re wondering how to build credit easily and affordably, look no further. No credit check required, just take 3 minutes to sign up - … Continue reading
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Agree with @Ali Aldiva with Kick Off. I used them and highly recommend them. Kikoff is a financial service designed to help individuals build their credit scores effectively and affordably. Here’s how it works and some of the products they offer:
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Kikoff Credit Account: This is a revolving line of credit, but it’s unique because it can only be used to make purchases from Kikoff’s online store, which includes items like financial literacy e-books. This account is reported to the three major credit bureaus—Equifax, Experian, and TransUnion. The service charges a flat fee of $5 per month and does not charge interest or have other traditional credit fees. It aims to improve your credit score by adding a positive payment history and managing credit utilization.
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Credit Builder Loan: This product is a 1-year plan where you effectively save $10 per month, which is reported as a loan repayment to credit bureaus. At the end of the year, you get back $120, having built a year of positive payment history.
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Secured Credit Card: Kikoff also offers a secured credit card that acts like a debit card but reports to credit bureaus as a credit card, helping build your credit with everyday transactions.
The overall goal of Kikoff’s services is to provide tools to individuals, particularly those with low or no credit scores, to build or improve their credit scores over time. On average, customers see a significant improvement in their scores after consistent use. It’s a beneficial service for those who might struggle to obtain credit through traditional means due to a lack of credit history or low scores. For anyone considering Kikoff, it’s important to note that the credit account can only be used within Kikoff’s own store, limiting its fl
http://www.recoverycreditrepair.com
recoverycreditrepair.com
Recovery Credit Repair Leaders in Credit Repair Services at California
Recovery Credit Repair has assembled a diligent, caring, experienced team of pre-litigation professionals that will stand up for your rights. Laws are in place to help you reclaim your financial well-being—we're here to help.
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Many consumers do not have any credit score. They have never been late on any monthly payments but do not have a credit score because they do not have any credit tradelines reporting on credit report. One best way of getting credit score or boosting credit scores to qualify for a mortgage is through EXPERIAN BOOST. Experian Boost is a free service offered by Experian, one of the major credit reporting agencies, that allows consumers to potentially increase their credit scores by including additional payment histories in their credit file. Here’s how it works and how it might be beneficial for those seeking mortgage approval:
How Experian Boost Works
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Utility and Telecom Payments: Experian Boost focuses on including your utility and telecom bill payments into your credit history. You can also add your streaming service payments. These types of bills are not typically reported to credit bureaus.
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Link Your Bank Account: To use Experian Boost, you link your bank accounts to the service. This allows Experian to scan your account for eligible payments.
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Choose Payments to Include: After scanning, you can choose which payment histories you want to add to your credit report. Only positive payment histories (on-time payments) are considered.
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Instant Result: Once you confirm the information, Experian recalculates your credit score instantly, potentially increasing your score based on the newly added payment history.
Benefits for Mortgage Approval
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Potential Score Increase: By adding additional on-time payments to your credit history, you might see an immediate increase in your credit score. A higher credit score can improve your chances of being approved for a mortgage and may result in more favorable loan terms, such as lower interest rates.
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Control Over Data: Experian Boost gives you the option to choose which payments to include. You have control over the information that could positively affect your credit score.
Considerations
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Limited Impact: While Experian Boost can increase your score, the impact might be modest. It’s more beneficial for those with thin credit files or borderline credit scores.
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Only Affects Experian Report: The service only boosts your Experian credit score. Lenders often look at scores from all three major credit bureaus (Experian, Equifax, and TransUnion), so the changes may not affect your scores with other bureaus.
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Privacy Concerns: Linking your bank account requires sharing financial information with Experian. It’s important to consider privacy and security implications.
Recommendations
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Assess Your Needs: If you are close to having a good or excellent credit score, using Experian Boost might help push your score to a level that significantly improves your mortgage options.
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Maintain Other Good Credit Habits: Continue making all loan and credit card payments on time, manage your debt levels, and avoid taking on unnecessary new debt.
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Check Your Scores Regularly: Regularly checking your credit reports from all three bureaus allows you to monitor your credit health and correct any inaccuracies.
Experian Boost can be a useful tool for those who pay their utility and telecom bills consistently on time but still have a lower credit score than desired. It’s one of several strategies that can help improve your credit profile before applying for a mortgage.
https://non-qmmortgagebrokers.com/raise-credit-scores-to-qualify-for-mortgage/
non-qmmortgagebrokers.com
How To Raise Credit Scores To Qualify For Mortgage - Non-QM Mortgage Brokers
This Article Is About How To Raise Credit Scores To Qualify For Mortgage
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I am going to sign up for this. I like this.
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Highly recommend EXPERIAN BOOST. Experian Boost is a free service offered by Experian that can help increase your credit scores by factoring in your on-time utility and telecom payments. This can be beneficial when trying to improve your credit profile for mortgage approval. Here’s how Experian Boost works:
- Connects to bank accounts: You connect your online banking accounts to the Experian Boost service. It then scans your bank statements for recurring payments made to utility companies, telecom providers, and certain streaming services.
- Identifies eligible payments: Experian Boost identifies eligible recurring payments that meet their criteria, such as on-time payments for utilities (gas, electric, water, etc.), cable/internet, mobile phone bills, and select streaming services.
- Updates credit file: With your permission, Experian Boost will then update your Experian credit file to include these on-time payments as a new tradeline. This can potentially increase your credit scores by improving your payment history and credit mix.
- Instant score updates: Once your file is updated, your Experian credit scores will reflect the changes instantly, allowing you to see the potential score boost.
Benefits for Mortgage Approval:
- Improved payment history: Including on-time utility and telecom payments can strengthen your payment history, which is the most significant factor in credit scoring.
- Enhanced credit mix: Adding these recurring payments as a new tradeline can improve your credit mix, potentially boosting your scores further.
- Increased credit scores: Higher credit scores can improve your chances of mortgage approval and potentially qualify you for better interest rates and terms.
- It’s important to note that Experian Boost only impacts your Experian credit scores and reports. It does not automatically update your credit files with the other two major bureaus, Equifax and TransUnion. However, some lenders may use your boosted Experian scores when evaluating your mortgage application.
- While Experian Boost can be a useful tool for credit score improvement, it’s still essential to maintain good credit habits, such as making on-time payments on all your accounts and keeping your credit utilization low. Combining Experian Boost with responsible credit management can significantly enhance your chances of mortgage approval.
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This reply was modified 6 months, 1 week ago by
Sapna.
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I have heard of this. Can I get approved for a house loan if I was three times late last November on credit card payments. It was not even a real credit card. It was Open Sky Secured Credit Card.
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Great advice and recommendation. Awsome article. Will pin it for future reference.
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Great information and advice. Thank you for sharing.
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This is really cool.
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Here’s Self.Inc Credit Rebuilder link
And here’s Capital One Platinum Secured Credit Card https://www.capitalone.com/credit-cards/platinum-secured/
self.inc
Credit Builder: Build Credit & Add to Your Savings with Self
Build your credit with Self's Credit Builder Account & secured Self Visa® Credit Card. Ideal for credit building, no hard check, & reports to all three bureaus.