Local Mortgage Broker in Burwood: How to Manage an Ideal Credit Score?
When taking loans to buy a home or refinancing your existing one, your credit score plays a major role in determining which kind of loan you can secure. A good credit score can help you access loans at better rates, flexible payment modes, and overall financial peace of mind. But how to know what your exact credit score is? Continue reading this blog to get the answer and know how a Local mortgage broker in Burwood can guide you to manage a strong credit core. Why Does Your Credit Score Matters? Generally, your credit score shows your financial reliability - it lets lenders know how timely you can repay a loan. Typically ranging from 0 to 1,000 in Australia, the score is figured out based on our credit usage, repayment history, and credit history length. A score of more than is also considered the highest score, signalling that you’re a low-risk borrower, letting you qualify for the loan at the best rate. On the other hand, a low score may keep limited loan opti...