Excellent Credit History

Here in the US, credit history is very important. It is hard for an individual to apply for a mortgage loan once he or she got a bad score. The higher the score, it proves your good rating in "credit worthiness". The willingness to repay a debt is indicated by how timely past payments have been made to other lenders. All lenders like to see a consumer debt obligations paid on a monthly basis.

If you have a 750 score and above, your standing to get approve by a lending institution is more likely. You have all the advantage to get a low interest in your loan application. Lending institutions will trust you if they see your high score. If you have a good credit history, you should maintain it because if it goes down, it will affect your future loan application.

If you have a negative credit rating, it is often considered as undesirable to lenders as well as other extenders of credit for the purpose of loaning money or capital.

Therefore, you should pay your bills in a timely manner because; it is always nice to have a higher score. You should aim to get that excellent credit score so that your mortgage loan application will be approve right on.