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Oftentimes when you hear about tips for improving your credit score, they are usually geared towards someone whose credit score is not high enough to obtain a loan or mortgage. But, it is equally important to offer advice to those whose score is high enough to qualify for a loan, but could be higher.

Increasing your credit score is of benefit to you because it can impact the interest rate you receive. The higher you can raise your credit score, the lower your interest rate is likely to be. Having a higher credit score can also reduce the amount of a mortgage insurance premium that you would pay on a conventional loan.

One thing that can negatively affect your credit score, even if you regularly pay your bills on time, is the amount of your revolving credit. If the amount of your balance in relation to your credit limit on items such as a credit card is too high, then it can lower your credit score. Just by keeping your revolving credit balance down to 30 percent of your available credit limit can increase your credit score anywhere from 20 to possibly even 40 points.

At Academy Mortgage, we can usually run your credit report through a simulator that will let us know what you can do to get additional points and advise you on how to make changes, even  doing things as simple as paying a few hundred dollars extra towards  your credit card balance. We can then have your credit report corrected and rescored during the loan process to get the best interest rates possible for you.

To receive more tips on how to raise your credit score, contact an Academy Mortgage loan officer at 404-558-4399 or visit www.AcademyMortgage.com.

Academy MortgageEqual Housing Lender. (c)2013 Academy Mortgage License #3113. GA Lic. # 20505. This is not a commitment to lend. Academy Mortgage Atlanta: 5565 Glenridge Connector,  Suite 400. Atlanta, GA 30342. Georgia Residential Mortgage Licensee.

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