HOW TO INCREASE
MY CREDIT?

The graph above is the formula in which the three credit bureaus: Equifax, Transunion, and Experian, calculate your credit score. The lender for prequalification will pull a "Trimerge" credit report and get the scores from all three bureaus and use the middle score for qualification. If there are two people on the loan they pull a Trimerge for both parties on the loan & use the LOWER middle score for qualification

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If you already have credit above 700, most likely the last two things holding you back from an 800+ score is your amounts owed, and "diversity" of credit. As a rule of thumb try to keep your balances on your credit cards less than 8% utilization of your total credit to get an 800+ score. Once you start using more than 30% of your total credit at any given time on a revolving account (like a credit card) your score will start to decrease. If you need help increasing your score, ask your loan officer if they have the "what if" credit simulator and if they can do a "rapid rescore" to increase your credit.