Understanding

your credit

What does your credit report say about you?

What does your credit say about you?

Not knowing what your credit report says about your finances may cost you more when trying to obtain a mortgage. Even those who pay everything on time might have an unaddressed credit issue that is hurting their credit! It is possible for incorrect information to be reported on your credit report, and it is important to identify any issues and correct them before you apply for a mortgage.

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What makes up your credit report?

Your credit score is a numerical representation of your trustworthiness in paying back debt. Each bureau will present you with a credit score based on the data they have.

What is reported?

A few of the items reported on your credit may include:

Credit Cards
Department store cards
Gas cards
Bank cards
Airline cards
Installment Loans
Mortgage loans
Auto loans
Student loans
Utilities
Rent (sometimes)
Collections or judgements
Bankruptcies

What does your credit history look like?

Credit history is a record of the health of each reporting credit line. Your credit score is created from the list below.

Payment History

35%

Time Existing

15%

Debt

30%

Account Variety

10%

New Credit

10%

Thomas Faille

Producing Branch Manager // NMLS #65084

Tom has been in the finance industry for 22 years and can assist in the loan process for most of the 50 states. He is a wonderful husband to his wife, Kathy, and proud father to Jake and Ava. In his spare time, he enjoys watching College and Professional football rooting for Notre Dame and The Raiders.

thefailleteam@gmail.com (219) 707 8106

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Get started by using one of our FREE tools!

Quick Mortgage Calculator

Purchase price

Please enter here the amount you expect to pay for a home.

Down payment

Down payment is cash that you pay upfront for your home.

Term in years

Number of years you have to pay.

year(s)

Interest rate (per year)

The percentage of interest that you will pay on your mortgage for a specific term.

Property Tax

Enter your property tax here if you know it.

per year

Home Insurance

Most lenders require home insurance. Enter its price here.

per year

PMI

PMI is Private Mortgage Insurance which is usually required to pay if your Down payment less than 20%.

Calculate

Mortgage Calculator is for demonstration purposes only and may not reflect actual numbers for your mortgage. Please contact us and we will walk you through the best possible mortgage scenario for your specific needs.

“

They made it an easy process in purchasing my home. Very organized and thorough. I closed on my new home exactly 30 days from my accepted offer. I would recommend this company to all my friends and relatives. They are a great company to have help you with the biggest most important purchase you will make.
Malissa Kanizar

“

Tom and his team were great through the whole process. They were always there night or day. I would definitely work with them again.
Don Feges

“

After having trouble getting approval to refinance my home, Tom and his team made it happen. I can't thank him/them enough for their friendly professionalism. Was a true pleasure to have HomeTown Lenders and the Faille Team complete this very necessary refinance, in a timely fashion.
Elaine Zenere

“

Tom and his team of experts are a great lender and helped me through the whole process along with educating me about the housing market as well. Him and his team were available most of the time whenever I was confused or had questions as well.
Muhammad Tabani

“

From start to finish Tom and his team were fantastic to work with. They always answered any questions I had returned my phone calls and explained everything going on. They were able to have me close on the home I purchased in 30 day’s which I asked him to do and he was a man of his word. I would highly recommend Tom and his team to everybody I do not have one complaint about them it was a great experience.
Jason

“

Tom and his team were amazing through the whole process all the way down to closing! They always got back to me quickly with answers to any questions I had which were a lot. I was super nervous and was working with limited time and they literally went above and beyond to help me and I can not Thank them enough! I highly recommend them to anyone starting the process to purchase their new home!
Kimberly Krick

“

Tom and his team were great through the entire process. They have an awesome app that helped us through the process as well. I highly recommend using Home Town Lenders for your home purchase!
Mark Goddard

“

Thomas Faille's team did a great job! They were professional, knowledgeable and always responsive. They were able to guide me and my family purchasing new home without stress.
Christian

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