| Midwest Financial Services, LLC |
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Midwest Financial Services, LLC
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| A name you know and Trust |
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| Buying a Home |
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| Credit Worthiness refers to a customer's ability to obtaining
financing based upon his or her credit. There are three reporting bureaus; Equifax, Experian, and Trans Union. Based upon credit information reported to these three bureaus, a person is then given a credit score. The Scoring companies are FICO, Beacon, and Emperica. Most lenders use the middle score to determine what program a customer qualifies for. |
| Tips for maintaining good credit: |
Make payments on time. Late
payments will have an adverse affect against the score. Mortgages
lates have a greater negative impact than installment loan lates and credit card lates.
Keep credit card balances low in relation to the highest
limits. Limit the number of credit inquiries.
Most lenders would like to see three to four open accounts rated
for 24 months.
If you have had a previous bancruptcy, lenders need
to see accounts opened after the BK.
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| To order a copy of your credit report please call 877-473-9627 or 765-475-0436. The credit report is $16. A free credit analysis comes with each credit report ordered. |