Lending guidelines require a certain score to begin the
process.
Things that dictate your score:
- How you paid your previous debts
- How much you still owe to other creditors
- How long you have had credit (length of credit history)
- Number of bankruptcies, charge-offs, and collections
- How much credit you currently have extended to you.
Your score is used to measure the likelihood of the loan being paid in full.
The higher the score the higher the chances the loan will never be late,
paid in full, and no missed payments. The lower the score the higher the
risk your debt load may become unmanageable and cause the loan to "go bad".
Regent Financial Group now offers a FREE credit analysis to see where your
credit may need some attention.
Read more about it in the "Credit Analysis" section of our site or contact
one of our loan officers today.
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