When it comes to financing a property, credit degree plays a decisive role Approval of your request and in financing conditions. It is the result that reflects your financial history and the ability to pay, which directly affects the decision of banks and finance. Knowing the perfect result for financing can be the key to ensuring interest rates and better payment conditions.
The degree of credit, which ranges from 0 to 1000 points, is one of the main criteria used by financial institutions to assess the risk of failure to pay and determine the conditions of credit, including real estate financing.
What is the degree of credit?
The degree of credit is the result generated by companies specialized in credit analysis, such as Serrasa, Spc Brazil and Boa Vista, based on their financial history. It is calculated given a number of factors, such as your payment behavior (if you pay your debts updated or suspended), the amount of credit used, the credit record time and the amount of inquiries conducted on your name.
This result aims to predict the possibility of paying your debts, and helping banks and finance to determine whether or not you will agree to funding or conditions that must be provided.
What is the perfect result of real estate financing?
Although there is no magic number, a high credit degree facilitates approval of real estate financing and obtain more useful conditions. For most financial institutions, the result exceeding 700 points is excellent, indicating that the applicant has a good payment record and is considered a low -risk customer.
However, if your degrees range between 500 and 700, you can still get financing, but you may have less favorable conditions, such as high interest rates. The grades of less than 500 are high risks, which may lead to difficulties in approval of credit or even increasing the requirements for granting financing.
Credit registration levels
The credit degree is divided into paths indicating the possibility of failure to pay. Below are the most common paths used by the main credit analysis platforms:
- From 0 to 300 points: Very high risk. With this result, the possibility of default is high, and the approval of financing is very difficult.
- From 301 to 500 points: High risk. Funding can be approved, but the conditions will be tougher and with high interest rates.
- From 501 to 700 points: Average risk. It is possible to obtain funding, but the interest rate will be higher.
- From 701 to 1000 points: Low risk. With this result, approval opportunities are very high, and financing conditions, such as interest rates, are the most useful.
How do platforms analyze your degrees?
The most used platforms by credit companies to consult with your credit degree are:
- Experian feelings: Serasa offers a registration system from 0 to 1000 points. It holds payment behaviors, open debts, the amount of credit used and the virtual registry.
- Spc Brazil: It also uses a similar degree for Serasa, with an analysis that focuses on the history of consumer credit and virtual records.
- Boa Vista: In addition to the degree of credit, BOA Vista also uses information on protests and rear checks.
These platforms are essential for banks and finances in analyzing a credit applicant profile. It provides data that helps to determine the confidence in the payment of customers, which directly affects the approval of the financing.
How to increase your credit degree?
If your credit degree is not high as you want, there are some strategies that you can adopt to increase and improve the opportunities for real estate financing:
- Pay your accounts so far: Paying on your debts, such as credit card bills and service accounts, has a direct impact on your degrees. The result is greatly affected by dates in payments.
- Keep a good relationship with credit: Use your credit limit responsibly. It is not necessary to use all available credit, but it is important to prove that you have control of your money.
- Negotiating and delaying debts completely: If you have any suspended debts, it is recommended to negotiate and seize it as soon as possible. Open debt opening can quickly improve your degrees.
- Avoid requesting credit excessively: Many consultations to your CPF can reduce your degrees. Therefore, avoid submitting many credit requests in a short time.
- Maintaining active credit date: The longer a healthy credit date, the greater your degrees. Therefore, preserving old accounts can be open.
Through small procedures in your financial behavior, it is possible to significantly improve your credit degree and ensure better conditions for financing your property.
The credit degree is a key factor when financing a drug, and the knowledge of this can be the key to obtaining better fees and conditions for payment. Although 700 points are perfect for ensuring the best offers, even those who have a lower degree can get funding, despite the stronger conditions. If you want to improve your degrees, adopt responsible financial practices, such as paying your bills so far and maintaining a good credit history, it is important to increase the chances of success in the real estate financing process.
