Category: Credit Scores

When it comes to buying a home, your credit score can make all the difference between a smooth approval and a hard stop. One powerful – yet often overlooked – strategy to improve your credit profile is becoming an authorized user on someone else’s established credit account. At Northeast Financial, we’ve seen firsthand how this…
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When it comes to credit scores, many people focus on payment history and amounts owed. However, the types of credit you use—known as your “credit mix”—also play a role in determining your score. In fact, credit mix accounts for about 10% of your FICO® Score What Is Credit Mix? Credit mix refers to the variety…
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When applying for a mortgage, unexpected credit report issues can derail your loan approval. One such issue is dispute wording on your credit report. While disputing inaccurate information is a consumer right, removing dispute wording improperly can cause more harm than good. How Does Dispute Wording Get on Your Credit Report? Dispute wording can be…
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At Northeast Financial, we understand how confusing credit scores can be—especially when the score you see on apps, bank statements, or credit card accounts doesn’t match the one your lender pulls during a mortgage application. If you’ve experienced this discrepancy, rest assured it’s completely normal and happens for a good reason. Different Scoring Models for…
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When you’re applying for a mortgage, one of the key factors that lenders look at is your credit score. Mortgage lenders typically use FICO® Scores from each of the major credit bureaus—Experian, TransUnion, and Equifax—to determine your eligibility and the terms of your loan. These scores help lenders evaluate the risk of lending you money.…
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When navigating financial decisions, understanding how different types of credit inquiries affect your credit score is essential. Here’s a breakdown of “soft” and “hard” credit pulls, what they mean for your score, and tips to keep your credit healthy. Soft Pull: Checking Your Own Credit A soft pull occurs when you check your own credit…
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