Credit Repair

676 Credit Score – The Magic Credit Score: How To Get The Best Mortgage Rates


676 Credit Score – Best Deal Right Now?


If you haven’t been to my channel yet… welcome!

I’m a Personal Mortgage Consultant in Washington State.

In other words, I get you financing to buy a home and help you make smart financial decisions for your future!

Last time I was here, I was saying – you don’t need 20-percent down to buy a house… whaaat?!

Go watch it.

Today – the magic credit score!

Your credit score is a huge part of determining your qualification for a mortgage.

The higher your credit score, the lower your loan pricing.

Meaning you get the best interest rate and, in turn, your monthly mortgage payment goes down.

The magic number you need… 740!

Anything 740 or above gets you the best loan options for your situation.

Now, how do I, as your mortgage consultant, determine your credit?

When we start the pre-approval process – check back on my previous YouTube video – I run your credit.

This means I send your information – name, social security number and date of birth – to the three major credit bureaus.
Experian, TransUnion and Equifax.

I will get three numbers back and I take the middle number of these scores.

So for example – I would get back 760 from Experian, 780 from TransUnion and 750 from Equifax. I would use the 760 number for your loan qualification.

Which is an awesome number by the way!

Wow! You really have built up your credit… kudos!

Now, there are ways to build your credit before you start the loan process.

Do – apply for a secured credit card.

Don’t close credit card accounts – this impacts credit history.

Can’t get a credit card? – become an authorized user on someone else’s credit card like a family member or significant other.

Don’t max out or over charge credit card accounts – keep your balances below 40% and pay off your entire balance every month if possible.

Do get credit for the rent you pay. Rental Kharma and RentTrack take the bill you are already paying and put it on your credit report, helping you build a positive history of on-time payments.

Don’t start adding new accounts, co-signing on a different loan or changing your name or address when you start the loan process. This will raise red flags in the scoring systems.

Do make on-time student loan and auto loan payments. Late payments can hurt your credit.

Building a good credit score takes time.

At least 6 months.

Start building now so you can be well-equipped when you are ready to jump into homeownership.

If you have any questions, please don’t hesitate to ask me.

This may seem like a big hurdle to overcome, but trust me, start today and little by little your credit will grow!

I’m your personal mortgage consultant – and I’m here for you every step of the way!

Thanks for watching!


Thanks for watching the 676 Credit Score video!

Watch the 676 Credit Score video on Youtube