Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Establishing Credit Score: What Tennessee Residents Need to Know

By Armandina Skerl Subscribe to RSS | May 18th 2012 | Views:
loading
 
  



In Joseph Heller’s novel Catch-22, pilots had to fly dangerous missions with increasing frequency, but in time they began to feel they wanted out. They knew that the only means of escape was to have themselves declared crazy. But to let out that one is crazy, and therefore, must be banned from flying, means one couldn’t be crazy, after all-- because he cares about life.

This paradox apparently creeps into the mundane world of business. In finance, the no-credit-score situation equates with the Catch-22 paradox: you can’t get credit without first having earned credit. So how do you ever establish credit when finance institutions aren’t willing to give you credit because you don’t have any? Borrowers confront this problem when they begin to apply for loans because they need an established credit score to apply. And it’s no different with potential home buyers applying for a home mortgage loan.

One way to establish credit is to open a bank account, and establish a good relationship with that bank. The longer you’ve worked with your bank, and can show yourself as a client in good standing, the better. This is beneficial in two ways: An account in good standing shows someone who could handle money, and if trust is established, it gets easier to get your loan approved.

If you regularly shop at malls and department stores, get yourself a couple of in-store credit cards. Most people overlook this opportunity because of high interest rates, but the ease in getting one can help you establish your credit score-- provided discipline in spending isn’t a problem for you.

Your credit score and your bank account are just two of the things lenders look at when you’re applying for a Tennessee home mortgage loan. Make sure stores report transactions to the credit bureau, or this move wouldn’t help you one bit.

Tennessee home mortgage lenders also check into your residence and employment history. A person with a stable job who doesn’t move around much earns brownie points with them. Your utility bills are also scrutinized, so it makes sense to pay them on time.

Establishing your credit is a first step to show your stability in matters of personal finances. With knowledge and discipline, you give off a statement that you can be trusted with a Tennessee mortgage loan. You manage your finances well, and you’ll be off to a good start. For more information, you may visit sites like FinancialPlan.about.com or Banking.about.com.

Armandina Skerl - About Author:
For more details, search Tennessee mortgage loan, Tennessee home mortgage and Tennessee home mortgage loan in Google for more related information.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/mortgage-articles/establishing-credit-score-what-tennessee-residents-need-to-know.htm

Related Mortgage Articles Subscribe to RSS

The real truth about mortgage rates
Published by Jack Smith on April 16th 2012 | Mortgage
While mortgage rates may differ with several companies and diverse plans¸ a good, hard-working barg...
 
Good mortgage rates are important for a comfortable mortgage period
Published by Jack Smith on June 22nd 2012 | Mortgage
Get mortgage rates that you can easily pay off even in the future because a mortgage affair can last...
 
Top 3 benefits of mortgage services for real estate investors
Published by Lending Expertsca on May 11th 2012 | Mortgage
Mortgage services offer several types of financial services for real estate investors as well as for...
 
Explore the different options of mortgage rates available
Published by Jack Smith on April 14th 2012 | Mortgage
It is advisable to first thoroughly investigate about the most lucrative mortgage rate in the market...
 
The best mortgage rate is only a systematic approach away!
Published by Jack Smith on May 22nd 2012 | Mortgage
Investigate the property market well and fulfill your dream of achieving the best mortgage rate for ...
 
Consultants to guide you for bad credit mortgage rates
Published by Jack Smith on July 26th 2012 | Mortgage
In the process of hunting for bad credit mortgage rates there has been seen an immense rise. But, to...
 
The best way of getting bad credit mortgage rates
Published by Jack Smith on June 20th 2012 | Mortgage
Be careful of getting axed by any broker while finding the best bad credit mortgage rates, as mean p...
 
The best mortgage rate can make your dream come true
Published by Jack Smith on April 12th 2012 | Mortgage
The best mortgage rates can fulfill your dreams at a dreamlike cost. Get yourself the best deal in t...
 
Your guide to finding the best mortgage rates
Published by Jack Smith on April 13th 2012 | Mortgage
The best mortgage rate may have to be decided upon after exploring several options but will be certa...
 
You can still borrow money with bad credit mortgage
Published by Jack Smith on June 24th 2012 | Mortgage
Bad credit mortgage is really helpful for those who have bad history in past, and with the help of t...
 
Adjustable mortgage rates opening paths for money saving
Published by Jack Smith on July 25th 2012 | Mortgage
In the field of finances, where Adjustable mortgage rates are becoming the most picked choice for al...
 
Bad credit and mortgage refinance option
Published by Kam Brar on December 16th 2011 | Finance
As people think, it is not easy to get mortgage refinance with bad credit. There are various factors...
 
Beware of Yield Spread Premium on California mortgage rates
Published by Apil Gupta on June 24th 2012 | Mortgage
If you are going to refinance your mortgage because the California mortgage rates on your current pr...
 
US mortgage rates hit record low at 3.66%
Published by Apil Gupta on July 16th 2012 | Mortgage
There was a significant drop in the US mortgage rates for 30 year fixed loans...
 
Should you go for a 15 or 30 year mortgage?
Published by Apil Gupta on June 24th 2012 | Mortgage
There are many times in life when one wants to possess something due to the sheer need of it, but is...
 
Looking for refinance mortgage loan - How to find the right one
Published by Apil Gupta on June 24th 2012 | Mortgage
In case you are looking to refinance mortgage loan for your home, there are many things that need co...
 
Fall in mortgage rates leads to better home sales
Published by Apil Gupta on July 16th 2012 | Mortgage
Riding high on the phenomenally low mortgage rates, there has been an increasing demand for new US h...
 
Get smart about mortgage rates
Published by Jack Smith on April 12th 2012 | Mortgage
The huge variety of mortgage rates makes it much simpler for the buyer to identify and take up the r...
 
Your guide to getting the best mortgage rates
Published by Jack Smith on April 18th 2012 | Mortgage
A systematic and well guided approach will certainly assist you in achieving the best mortgage rate ...
 
Appeal for best adjustable mortgage rates
Published by Jack Smith on July 25th 2012 | Mortgage
In the field of getting adjustable interest rates via the options of best adjustable mortgage rates ...