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Auto loans, mortgages, credit cards etc
Card Consolidation Credit Debt A bad credit rating doesn't influence only the home mortgage loans; it also influences your eligibility for auto loans, credit cards and other loans too. And all these loans contribute towards you getting a bad credit rating or getting a good credit rating. For example, if you had taken a auto loan 2 years back and wanted to get a home mortgage loan for a Alaska house which you very much like, your credit rating (which would have already been calculated by the credit bureaus based on your auto loan repayment history and based on your repayment history of other loans) would be used by the mortgage lender for determining the mortgage quotes for you. As you repay your home mortgage loan for your Alaska home, your credit rating with get better or worse; again depending on how good or how bad you are at making your mortgage payments.
- Revolving (credit cards and store cards)
- Installment (fixed payment loans, like personal or auto loans)
- Real Estate (mortgages)
- Total Debt
Credit Union So maintaining a good credit rating is very important indeed.
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