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What is a Credit Score Report?
edit scores are used by lenders to determine if you qualify for a loan or service. The lenders use these scores to estimate the amount of risk they maybe exposed to by providing you with their services. Basically the higher your score the less risk you represent to the lender.


Where can you get a Free Credit Report?


A Central Source has been setup for you to request the free reports. You can contact the Central Source at: or by calling 1-877-FACTACT. The Central Source makes the reports available to certain parts of the country during certain times of the year.


Also, there are three nationwide consumer credit reporting companies where you can purchase a copy of your credit score report. These are:


Equifax -
Experian -
TransUnion -


It's a good idea to purchase the Credit Score Report along with the free Credit File Disclosure report to get an overall picture of your credit profile.


New Credit Scoring System


A new credit scoring system called "VantageScore" has been designed to make it easier for financial institutions to assess loan applications and also give consumers an easier way of measuring their credit worthiness.


The three credit agencies each have been using their own formulas to generate their own credit scores, so lenders would have to reconcile three different scores when dealing with a consumer's application for credit.


Now, using this new system Cheap Air Max Plus Shoes , only one formula is used to create the scores for all three credit bureaus, so the scores will be virtually the same. This will provide a highly consistent score that is easy to understand. The scores will range from 501 to 990. The high end is slightly higher than scores currently in use. The scores will be grouped in a way similar to academic grades. For example:


A -- 901-990
B -- 801-900
C -- 701-800
D -- 601-700
F -- 501-600


The new score is expected to reduce the fluctuation in a consumer's scores by an estimate of 30 percent compared with the old method.

By refinancing your property online you can take advantage of competitive rates in the convenience of your home. You should consider refinancing your property if interest rates are lower, your financial situation has improved, or your credit rating has improved. Once you are ready to refinance Cheap Air Max TN Shoes , search for lenders' rates online for easy comparison shopping.

When To Refinance

Lower interest rates for mortgage loans are a prime time to refinance, but there are other times to consider refinancing too. For instance, if your financial situation has improved through a higher salary or extra cash reserves, then you may qualify for lower interest rates even if rates for mortgages in general haven't fallen. The same applies for improved credit ratings.

In addition to lowering rates Cheap Air Max 90 Shoes , you can also withdraw equity from your property to invest in land improvements or pay off high interest credit cards.

Finding Lenders

Lenders' rates vary as much as 5% between financing companies, so it makes sense to shop around. Online lending websites allow you to quickly compare rates through general quotes. For an actual refinancing quote, you will need to provide more detailed information, but general quotes will give you a rough idea of who is the most competitive.

Besides comparing rates Cheap Air Max Shoes , look at lenders' fees and points. These hidden loan costs can mean the difference of thousands of dollars. When comparing loans, add the interest you will pay over the course of the loan and all fees and points to get the total cost of the loan.

Requesting Quotes

Once you have picked a handful of potential lenders, request actual loan quotes from them. Online lenders will require you to fill out a detailed questionnaire, providing information about you and the property. Job history Cheap Nike Air Max Plus , property location, and other details are all factors in determining your refinancing rates. Requesting refinancing quotes will not lock you into a loan, but will ensure you are getting a competitive financing package.

Applying Online

You can finish the refinancing process online by completing your application through the lender's website. Typically, if you have received a detailed quote Cheap Nike Air Max TN , your application is practically finished. Once you have given the go ahead, the lender will send out the final paperwork for your signature and approval. The loan process from beginning to end usually takes less than six weeks.

To view our list of recommended refinance lenders online, visit this page: Recommended Refinance Lenders Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans. Send Mothers Day Flowers to India and Reach Straight to Her Heart

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