Understanding

your credit

What does your credit report say about you?

What does your credit say about you?

Not knowing what your credit report says about your finances may cost you more when trying to obtain a mortgage. Even those who pay everything on time might have an unaddressed credit issue that is hurting their credit! It is possible for incorrect information to be reported on your credit report, and it is important to identify any issues and correct them before you apply for a mortgage.

Mortgage Home Loans

What makes up your credit report?

Your credit score is a numerical representation of your trustworthiness in paying back debt. Each bureau will present you with a credit score based on the data they have.

What is reported?

A few of the items reported on your credit may include:

  • Credit Cards
  • Department store cards
  • Gas cards
  • Bank cards
  • Airline cards
  • Installment Loans
  • Mortgage loans
  • Auto loans
  • Student loans
  •  Utilities
  • Rent (sometimes)
  • Collections or judgements
  • Bankruptcies

What does your credit history look like?

Credit history is a record of the health of each reporting credit line. Your credit score is created from the list below.

Payment History

35%

Time Existing

15%

Debt

30%

Account Variety

10%

New Credit

10%

Mark Newhouse

Loan Officer  //  NMLS #1469412

Mark was born in Louisville, KY but has lived all over the country in Kansas, Illinois, Augusta, GA, and Knoxville, TN. He has lived in Knoxville, TN since 1991, and it is a town that he loves dearly. He lives there with his beautiful wife Alicia and their two children Weston (5) and Addy (3). The family enjoys time at the beach, playing with their dog Doddy, attending church, watching movies, and spending time with their large family. Since Mark was 6 years old, he has played year around baseball where he competed at some of the highest levels and loved working as a team to achieve the ultimate goal to win championships. Baseball at that age and growing up taught him valuable life lessons in competing, learning to work as a team, setting goals and working to achieve them. Mark has that same commitment to serving his clients and seamlessly getting them into their perfect dream home. Mark Newhouse has been in the mortgage business for over 5 years and in customer service over 15 years. He is fully committed to making the mortgage process as smooth as possible.

mnewhouse@homevantage.com(865) 300-0134
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