Tips on How to Improve Your Credit Score
Hey folks, it's time to get real about your credit score. If you're anything like me, you probably don't pay much attention to it until it's time to apply for a loan or credit card. But did you know that your credit score can make or break your ability to obtain a mortgage loan?
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When you apply for a mortgage loan, lenders take a close look at your credit score and credit history. They want to know if you're a responsible borrower who will pay back the loan on time and in full. A good credit score can help you qualify for a mortgage loan with a lower interest rate and better terms, while a poor credit score can make it more difficult to get approved and result in higher interest rates and less favorable terms.
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In short, your credit score is one of the most important factors that lenders consider when deciding whether to approve you for a mortgage loan. By taking steps to improve your credit score, you can increase your chances of getting approved for a loan with better terms and save yourself thousands of dollars in the process.
1. Check your credit report regularly
This is a no-brainer, but it's worth repeating. Make sure to check your credit report for any errors or fraudulent activity. You can get a free credit report from each of the three major credit bureaus every year, so take advantage of it.
2. Pay your bills on time
This one seems obvious, but it's worth emphasizing. Late payments can have a big impact on your credit score, so set up automatic payments or reminders to make sure you're always on time.
3. Lower your credit utilization ratio
Your credit utilization ratio is the amount of credit you're using compared to your credit limit. Aim to keep your utilization ratio under 30% to improve your score.
1. Check your credit report regularly
This is a no-brainer, but it's worth repeating. Make sure to check your credit report for any errors or fraudulent activity. You can get a free credit report from each of the three major credit bureaus every year, so take advantage of it.
2. Pay your bills
on time
This one seems obvious, but it's worth emphasizing. Late payments can have a big impact on your credit score, so set up automatic payments or reminders to make sure you're always on time.
3. Lower your credit utilization ratio
Your credit utilization ratio is the amount of credit you're using compared to your credit limit. Aim to keep your utilization ratio under 30% to improve your score.
4. Increase your credit limit
If you're struggling to keep your credit utilization ratio low, consider asking for a credit limit increase. Just make sure not to use the extra credit as an excuse to spend more.
5. Diversify your credit
Having a mix of credit types (like a credit card, auto loan, and mortgage) can improve your credit score. But don't open new accounts just to add diversity - only take on credit that you actually need and can handle responsibly.
4. Increase your
credit limit
If you're struggling to keep your credit utilization ratio low, consider asking for a credit limit increase. Just make sure not to use the extra credit as an excuse to spend more.
5. Diversify your credit
Having a mix of credit types (like a credit card, auto loan, and mortgage) can improve your credit score. But don't open new accounts just to add diversity - only take on credit that you actually need and can handle responsibly.
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šš Texas Manufacturing Boom Is Fueling Houston & Katy Commercial Real Estate Demand
šš Texas Manufacturing Boom Is Fueling Houston & Katy Commercial Real Estate Demand
āļøš¢ Why Manufacturing Re-Shoring Is Driving Industrial & CRE Growth Along I-10 in Katy
Texas Manufacturing Momentum Is Reshaping Houston-Area Commercial Real Estate
Texas has emerged as one of the clearest winners of the U.S. manufacturing re-shoring movement, and Houston sits at the epicenter of that growth. According to recent data from Newmark, Texas now leads the nation in advanced manufacturing project announcements and remains one of the few states still adding manufacturing jobs, even as national manufacturing employment contracts.
This trend is not cyclical or speculativeāit is structural. Texas benefits from lower power costs, reliable energy infrastructure, deep labor pools, port access, and a pro-business regulatory environment. These advantages are attracting long-term manufacturing investment that directly translates into sustained commercial real estate demand.
The Manufacturing āMultiplier Effectā on Commercial Real Estate
Manufacturing facilities rarely operate in isolation. Major investments create a multiplier effect that drives demand well beyond the initial plant or campus. As Newmarkās data confirms, markets like Houston are seeing net absorption driven by real users, not speculative leasing.
Manufacturing growth generates demand for:
Ā·Supplier and component facilities
Ā·Flex and light-industrial buildings
Ā·Logistics and distribution hubs
Ā·Service-oriented industrial users
Ā·Supporting office, medical, and workforce housing
For lenders and investors, this creates layered demand across multiple property types, reinforcing long-term occupancy and cash-flow stability.
Why Katy & West Houston Are Perfectly Positioned
The HoustonāKatyāWest I-10 corridor is uniquely positioned to capture manufacturing spillover. Proximity to Houstonās energy ecosystem, logistics access through the Port of Houston, and a growing skilled workforce makes Katy especially attractive for manufacturing-adjacent tenants that require speed, power, and scalability.
Newer industrial inventory along I-10 and the Grand Parkway allows companies to move quickly without the development risk or long timelines seen in more constrained coastal markets. This combination continues to attract upstream and downstream supply-chain users seeking operational efficiency and political certainty.
What This Means for Financing & Capital Strategy
From a mortgage and capital advisory perspective, manufacturing-driven CRE demand strengthens the underwriting story for:
Ā·Industrial and flex acquisitions
Ā·Ground-up industrial development
Ā·Owner-occupied manufacturing facilities
Ā·Supplier and logistics real estate
Ā·Land banking along growth corridors
Stable absorption, diversified tenant demand, and job-creating industries improve lender confidenceāespecially for bank, SBA, bridge, and private capital executions. Well-located assets in Katy and West Houston remain attractive even amid broader economic uncertainty.
Bottom Line
Manufacturing re-shoring isnāt just a national headlineāitās a local demand engine for Houston-area commercial real estate. Katy sits directly in the path of this growth, benefiting from infrastructure, energy access, and scalable industrial supply. For borrowers, investors, and developers, this environment creates durable financing and acquisition opportunities that reward long-term strategy over speculation.
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Ā© 2023-2024 Bill Rapp, Medallion Funds LLC, Director of Capital Advisory
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Refinancing youe loan and when to do it
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Copyright Ā©2021 | Mortgage Viking Team
Licensed to Do Business | NMLS # 228246
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright Ā© 2021 | Medallion Funds
Corporate | NMLS ID NMLS # 1825831
Corporate Address : 2651 N. Green Valley Pkwy STE. 101 Henderson, NV 89014
Corporate NMLS NMLS # 1825831 | Company Website: https://medallionfunds.com/bill-rapp/
Copyright Ā©2021 | Mortgage Viking Team Licensed to Do Business | NMLS # 228246
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply
Corporate | NMLS ID NMLS # 1825831
Corporate Address : 2651 N. Green Valley Pkwy STE. 101 Henderson, NV 89014 https://medallionfunds.com/bill-rapp/