Loan Specialist in Silverdale
Washington; Shane McGraw
Shane McGraw, a VA loan specialist with Legacy Group Lending in Silverdale WA, is a highly intelligent and caringindividual, looking specifically to assist those around him as productively as he can. As a loan specialist, Shane McGraw is dedicated to guaranteeing that the men and women of the armed forces can feel comfortable in knowing that they are working with a trusted advisor who will assist them in making the most informative decisions in regards to mortgages. Shane also takes the time to make sure that the advice he gives as a loan specialist will be easily integrated into your major life goals and personal financial plans.
Something you may ask yourself is who is Shane McGraw? Why should I trust him as my loan specialist? Well, aside from being a loan specialist, Shane is also a disabled veteran, making it possible for him to relate with other veterans. Shane is also a loving and dedicated father of three who understands the value of home and family, and is aware of how important picking the right loan specialist is when it comes to choosing a home that suits you and your family's needs. He knows that a mortgage isn't just a loan from the bank; it's one of the most important financial planning tools one will ever have.

Helping military families achieve home ownership is something that Shane, as an individual and as a loan specialist, prides himself on. Shane loves being the Silverdale/Puget Sound VA loan specialist with helping others being one of his main motivations. Shane McGraw; a loan specialist who prides himself on his job and his experienced abilities in the assistance of others. Therefore, if you ever find yourself in Silverdale or the surrounding Puget Sound area, Shane McGraw is waiting for your call. A loan specialist who truly cares about your goals and strives to meet your needs.
Understanding the FICO Scoring Model
Building good credit is a balancing act. If you have too much debt, then your scores will suffer. If you have no credit then your credit scores will suffer as well. There are 5 factors that determine your overall creditworthiness. Any of these five factors will affect your credit score either positively or negatively.
Your credit report will show all 5 of these factors in what is called a tri-merge report. This report is produced by each of the major national credit bureaus. Equifax, Experian, and TransUnion all use versions of the Fair Isaac Co (FICO) scoring model to determine your score in this report. Most banks use this risk model for determining approvals. There are other scoring models available, but FICO is the standard with most creditors. Keep in mind that each bureau will have a different credit score because each bureau is reported to independent of another. Creditors may pull reports from and report to one, two, or all three major bureaus.
FICO Score Model
image credit FICOscore.com
The whole point of a credit score is to determine your personal credit risk. The higher your credit score the lower your risk is to creditors.
Based on the model above you can see that your credit scores are determined by your credit utilization and your payment history. You need a mix of mortgage, installment, and revolving accounts all paid on time. Keep your credit card balances low, in regards to available limits. In order to have good credit you must have credit reporting to all 3 national credit bureaus.
You are considered a higher risk in the eyes of most creditors if you don't have credit cards or loans reporting, or if you have a bad payment history. It is also possible to have too many open lines of credit.
How Much Does It Cost You If You Choose To Do Nothing About Your Credit?
The short answer is it will cost you your life; the life you should be living, the life you were meant to live, and the life you need to start living.
Are you living with the emotional cost of bad credit?
Do your kids get to run outside and play in the backyard or have you been forced to live in apartments?
Will you be able to get a loan to help your child go to college?
The life where you call all the shots begins with good choices today to build your credit score.
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