Understanding

your credit

What does your credit report say about you?

What does your credit say about you?

Not knowing what your credit report says about your finances may cost you more when trying to obtain a mortgage. Even those who pay everything on time might have an unaddressed credit issue that is hurting their credit! It is possible for incorrect information to be reported on your credit report, and it is important to identify any issues and correct them before you apply for a mortgage.

Mortgage Home Loans

What makes up your credit report?

Your credit score is a numerical representation of your trustworthiness in paying back debt. Each bureau will present you with a credit score based on the data they have.

What is reported?

A few of the items reported on your credit may include:

  • Credit Cards
  • Department store cards
  • Gas cards
  • Bank cards
  • Airline cards
  • Installment Loans
  • Mortgage loans
  • Auto loans
  • Student loans
  •  Utilities
  • Rent (sometimes)
  • Collections or judgements
  • Bankruptcies

What does your credit history look like?

Credit history is a record of the health of each reporting credit line. Your credit score is created from the list below.

Payment History

35%

Time Existing

15%

Debt

30%

Account Variety

10%

New Credit

10%

Whitney Smith

Loan Officer  //  NMLS #1639913

Whitney was born in Wilmington, DE to Dr. & Mrs. Thomas D. Moye Jr., and moved to Knoxville, TN in the early 80’s. Whitney graduated from the University of Tennessee with a B.A. in German in 2004 and has worked in mortgage servicing for 13 years before joining the Bank of England Mortgage team. Whitney is married to her wonderful husband of 11 years, Jeremiah Smith. They have two energetic boys, Aiden (8) and JT (5), and two Great Danes (Ben and Lilly), and love spending their time with friends and family. Whitney loves to help and is looking forward to helping you with the home buying process.

wsmith@homevantage.com(865) 548-2463
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