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Credit DO’s and DON’Ts

5 Factors That Decide Your Credit Score

  • Payment history. Do you pay debts on time?
  • Amount of debt. Less is best.
  • Credit history. The longer the better.
  • Amount of new credit. New credit is considered more risky!
  • Types of credit, i.e. installment loans, credit cards, and a mortgage.

Credit scores range between 200 and 800. Scores above 640 are considered desirable for obtaining a mortgage. For more on evaluating and understanding your credit score,


  • Pay your mortgage or rent payments on time.
  • Stay current on all outstanding accounts.
  • Continue working for the same employer.
  • Stay with your current insurance company.
  • Notify your Lender immediately if any situation arises that could possibly affect your income, assets, or credit.


  • Don’t switch bank accounts.
  • Don’t transfer balances between accounts.
  • Don’t increase the balance of any credit cards.
  • Don’t consolidate debt, including credit card debt.
  • Don’t close any accounts, including credit card accounts.
  • Don’t apply for ANY credit (new vehicle, furniture, appliances, etc).
  • Don’t change your job, employer, the way you are paid, or become self-employed.
  • Don’t pay off charge-off or collection accounts before consulting with your lender.
  • Don’t make large deposits without the ability to document the source of the funds.

Feel free to contact our team if you have any further questions.

We are looking forward to working with you and your family in the near future

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