This is a YouTube video titled "📈 Boosting Your Credit Score for a Home Loan 📈" containing a monologue or presentation from August 6, 2021, discussing strategies to improve credit scores quickly to qualify for better mortgage rates and reduce loan costs. The speaker explains common effective and ineffective credit score actions in the context of mortgage applications.
Applying for a mortgage is super common for every bank and lender to look at the person's score on that specific day and do the loan based around that. I think there's a lot more that can be done for my clients. This is how we do it. We try to get them to the next tier. No matter where they're at, each tier up could save them up to a half percent in cost. Which $300,000 loan that's 1,500 bucks out of pocket or it could drop their rate by an 8 dropping their payment. Now here's some of the common things and this is short term. These updates we get done in a few days so their score is instantly updated. They can pay down credit card balances. They can remove themselves an authorized user on another account. They can even open up a credit card sometime. And here's some common things that people think may help but aren't so helpful on a mortgage credit score.
