It’s about to get easier (and harder) to get a loan

Changes in how FICO credit scores are calculated make managing your credit score more important than ever!  The good news, these changes will likely improve the scores of those who already have good to exceptional scores as their successful financial management habits are rewarded.  Additionally those with limited credit are getting some new acceptable sources that can help them establish credit which is good news for young people or folks new to the country.  However, those with increasing debt levels, delinquent payments and some types of borrowing will be looked at and scored more critically.  This makes it super important for those with flagging scores to do their research and do what they can to increase their scores.  This great article dives into all of this.  If you are looking for assistance in assessing your scores and need help in trying to bring them up reach out to me and I can help you do so.

It’s a good life.