Credit Reporting Services - Information & Personal Credit Reports

The big three

You can improve your rates and save thousands on your loan by improving the three most important loan factors.

Credit score target – above 650
How to meet the target –

	•	Clear inaccuracies from your credit report
	•	Pay your bills on time for at least 6 months
	•	Avoid unnecessary applications for credit
	•	Reduce your debts to below 35% of their credit limits

Debt-to-income ratio target – 20-30%
How to meet the target –

	•	Pay off small loans
	•	Reduce your credit card balances
	•	Increase your income by co-signing with your spouse

Loan-to-value ratio target – less than 80%
How to meet the target –

	•	Increase your down payment to at least 20% of your new home or car's value
	•	Negotiate to reduce the price with the seller
	•	Select a less expensive home or car to purchase