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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š„ CRE Credit Crunch 2025: Debt Pressure Mounts as Office Sector Falters š¢
š„ CRE Credit Crunch 2025: Debt Pressure Mounts as Office Sector Falters š¢
šØ Commercial Real Estate Distress Hits $116B: Is the System Cracking? šø
CRE Credit Distress Accelerates as Office Woes Deepen
Americaās commercial real estate market is heading into choppy waters. Distress levels are rising sharply, and cracks in the financial foundation are no longer just isolated to office buildingsāthey're spreading.
š $116 Billion in Trouble:
According to MSCI, commercial real estate (CRE) distress climbed to $116 billion as of March 2025, up 23% year-over-year. Thatās the highest level since the global financial crisis. Delinquencies are risingāalbeit at a slower paceāyet the systemic risk is growing.
š¢ Office and Multifamily Under Fire:
The office sector remains the epicenter of CRE woes. A combination of remote work, stalled leasing activity, and uncertain economic policy is hammering demand. The Fedās Beige Book flagged weakness across both office and industrial leasing markets. Whatās more alarming: multifamily is now feeling the strain too, with past-due and nonaccrual loan levels hitting highs not seen since 2014, according to the FDIC.
š¦ Banks Are Backpedaling:
Deutsche Pfandbriefbank, a major German lender, is pulling out of U.S. commercial real estate altogether, aiming to offload $4.7 billion in loans. U.S. banks are extending loan maturities rather than recording lossesāeffectively kicking the can down the road. With $410 billion in unrealized securities losses looming, this strategy is delaying the inevitable.
š¼ Private Lenders Fill the Void (But At What Cost?):
Private debt funds and non-bank lenders are stepping in, but regulators are warning they may not be equipped to weather a credit crunch. The Financial Stability Board has cautioned that these players could amplify systemic risk in a downturn.
š Foreign Capital May Dry Up:
A proposed Section 899 tax could severely impact foreign investment in U.S. CREāadding more pressure to an already fragile market.
š The Big Picture:
This isnāt just an office problem or a regional bank issue anymore. Itās systemic. Debt maturities, weak leasing demand, regulatory pressure, and capital flight are converging. For borrowers and investors, navigating the CRE market in 2025 will require strategic refinancing, flexibility, and expert guidance.
š Need help evaluating your options in a distressed market?
Our team at Medallion Mortgage can help you refinance commercial loans, identify bridge lending solutions, and source private capital where traditional lenders fall short.
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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/