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Rates are flat today. Today’s rates with no lender fees are 3.5% APR on a 30 year, 2.875% APR on a 15 year and 2.75% APR on a 10 year. (click here for details)

Today is going to be an extension of yesterday…How to improve your credit score. Some may think it’s a difficult thing to do, but it’s not…well sometimes.
Check it out in today’s video:

You know the saying “Time heals all wounds”? Well it goes for your credit also. Not just for ex’s. You know what I mean? So this means that it’s not going to happen over night.
So here are a few easy things you can do to boost your current credit score:
1. Use your credit! Use them for gas, groceries or odds and ends, then pay it off in full. Just make sure the amount you use is less than 10% of your credit limit.
2. Increase your max limit. If you do carry a balance from month to month is will lessen the impact of that balance. And never ever, go over 50% of your available balance. You’re better off opening a new credit card.
3. Establish different types of credit like a mortgage or an installment loan like a car payment and at least 2 credit cards. You need to diversify your credit lines. 10 credit card does not accomplish that.
4. Pay your utilities on time! Obvious one. But did you know your utilities show up on your credit report? They sure do. A late electric payment is just as bad as a late credit card payment.
5. If you can’t get a regular credit card get a secured credit card. This is basically like a debit card, you will deposit your own money in an account and the card holder will extend that credit while reporting it to the credit bureau. Not a bad deal for some of you!
Having no credit quit as bad as bad credit but its not good either. You must have some credit history before a lender is going to let you buy that $400,000 dream home you want. You, in all honesty, are just a number. And I am sure you are well aware the lower your credit score the worse the rate. Your goal is always to be maintaing a score above 740. That will get you the best rate. And that is what you want, isn’t it?
Just follow these simple steps and you should be on your way to good, maybe even great, credit in no time.
I know that you know it’s Friday! Check out these three crazy twitter fanatics and show them some twitter love.
Peter Winick – Deep expertise in helping those with deep expertise.
Rob Mildish – Mortgage professional
Joanna MacKenzie – Mortgage by day, Red Cross Disaster Action Team lead and Public Affairs volunteer by night
If you thought this was good information or worth discussing, help me bring transparency to mortgage lending by sharing today’s episode on Facebook or Twitter.
Let’s change the way people shop for a mortgage…forever!
– Mike
PS. To ask a question, get advice, or find out if you’re getting the best deal possible on your loan, just post a comment below.

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