credit knowledge – The Lawhead Team https://marilynlawhead.com The Lawhead Team, Because Two Lawheads are Better than one! Tue, 11 Aug 2015 15:59:22 +0000 en hourly 1 How Much Do You Know About Your Credit? https://marilynlawhead.com/credit/ Tue, 11 Aug 2015 15:59:22 +0000 http://www.marilynlawhead.com/?p=3903 One Cool Thing – Credit Knowledge and Confidence

The Lawhead Team would like to share the latest “One Cool Thing” from the California Association of Realtors about homebuyers and their credit.

Spring and summer mean warmer weather and increased home sales, according to C.A.R. data. However, a new Experian survey suggest many homebuyers dread the process because they’re unaware of their credit scores.

  • credit70% of prospective buyers who know their credit scores feel significantly more prepared to buy a home
  • 54 % do not know their scores
  • 62% of potential buyers are confident about their credit status
  • 60% of future buyers say they are financially prepared to buy a home

Taking Action

  • 58 % of future homebuyers are working to improve their credit in order to qualify for a better home loan interest rate
  • 55% are paying off debt
  • 54% are paying bills on time
  • 28% are keeping balances low on credit cards
  • 20% are protecting credit card information from fraud/identity theft
  • 16% aren’t applying for or opening new credit accounts

Source: Experian Home Buying and Credit: Survey, Report 2015

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