💰🧩 Ever asked yourself, “Does financing hurt your credit?” Let’s dig into that question a bit.
When you apply for financing, lenders perform a hard credit check to assess your creditworthiness. This can cause a temporary, small dip in your credit score. So, yes, initially, financing can have a slight negative impact. 📉🔍
Another factor is the age of your credit accounts. If you’re opening a new account, it can reduce the average age of your credit history, which may slightly lower your score. 🗓️⏬
However, don’t let this discourage you! While financing can temporarily decrease your credit score, it can also help build your credit over time. How? By making regular, on-time payments, you demonstrate to lenders that you’re reliable, which can positively impact your score. Regular payments are a significant factor in your credit score. 💸✅📈
#CreditScore #FinancingFacts #FinancialHealth #MoneyMatters #CreditEducation
Today is a good day to get started, let’s embark on this exciting journey together. Reach out to Ashe County Realty today, and let our experienced team guide you through the real estate market. Whether it’s a cozy cabin in the mountains or a charming home in town, we will help you find the perfect place to call your own.
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