Credit Xpert

You probably know that your credit score can affect the rate and other terms you are offered when applying for credit.  Did you know there are tools to help you determine what steps you can take to improve your score?  In September 2000 a small innovative software developer, CreditXpert, Inc., created an accurate predictive credit scoring tool and pioneered the first credit analysis services to challenge FICO scores.

CreditXpert's "What IF Simulator" lets users see what would happen to a score before taking action to, for instance, pay down a credit card, pay off an old collection account, or take out a new loan.  Another feature of the program allows you to enter an amount of funds, say $1,000, and let the system tell you how to best apply that cash to obtain the greatest improvement in your credit score.  It can be used to predict results, develop plans, and make informed decisions.  The technology behind credit scoring models can be confusing and a seemingly obvious strategy to improve your score may prove of little value or even damage your score.       

CreditXpert is available to most mortgage lenders through their credit service providers.  Reviewing your credit report well in advance of applying for a loan will identify areas for improvement, if necessary, and allow you plenty of time to make the suggested changes to affect an increase in score.

As a member of our Team, Schaefer Mortgage Corp. is available to review your credit profile, run the appropriate analysis using CreditXpert's tools, and advise you of ways to optimize your choice of mortgage products and obtain the best terms and conditions possible.  Click www.schaefermortgage.com.