HARP 4 Homes, LLC

04/11/2018

Andrea Amere McClelland an Ernest Harp here with part 5 of factors that make up your credit.

5. Multiple New Accounts

Too many new accounts can lower your score by decreasing your length of credit history and increasing the number of hard inquiries appearing on your credit report. For this reason, you should avoid opening multiple accounts within a short amount of time. Strive to wait at least six months between credit applications.

04/06/2018

Andrea Amere McClelland and Ernest Harp here with part 4 of the factors that make up credit.

4. Hard Credit Inquiries
There are two main types of credit inquiries: soft and hard. Soft inquiries are initiated without your knowledge by companies screening you for pre-approved offers. They do not affect your credit score.

Hard inquiries, however, account for the remaining 10 percent of your credit score. Hard inquiries include any and all credit applications initiated by you or by a lender on your behalf. Scoring models look at two factors when considering hard inquiries: the number of inquiries present and the date they were initiated. Older inquiries carry less weight than newer ones.

04/05/2018

Andrea Amere McClelland an Ernest Harp here with part three of the factors that make up credit.

3. Mix of Credit
Accounting for 10 percent of your credit score, your mix of credit depends on the types of credit accounts listed on your credit report. A diverse mix that includes installment loans, revolving credit and secured credit is best. The following is a brief explanation of each type of credit.

Installment loans: Personal loans, student loans, furniture loans
Revolving credit: Credit cards, retail credit cards, gas cards
Secured credit: Auto loans, home loans, equipment loans
For the best possible score, maintain a mix of credit accounts but don’t go overboard. A single installment loan combined with two credit card accounts and an auto loan is sufficient to show how you manage different types of credit.

04/04/2018

Andrea Amere McClelland an Ernest Harp here. This is part 2 of 5 factors that make up your credit.

2. Length of Credit History

The length of your credit history accounts for 15 percent of your credit score. To calculate your length of history, credit scoring models determine the average age of all credit accounts listed on your credit report. Closed accounts that have fallen off of your credit report are not considered.
When it comes to credit history, there is no magical number you should strive for. However, the longer history you have, the better.

04/03/2018

Good evening, Andrea Amere McClelland and Ernest Harp here. Over the next few posts Andrea an I will be posting tips on how credit scores are factored and how to increase your score. Here is the first tip.

Factors That Influence Your Credit Score
Credit scoring models look at a variety of factors when calculating your score, including payment history, credit card utilization, length of credit history, mix of credit and inquiries.

1. Credit Card Usage
With the exception of payment history, credit card utilization impacts your credit score more than any other factor. A whopping 30 percent of your credit score depends on it. Your utilization score represents the percentage of revolving debt you have in comparison to the total amount of revolving credit available to you. Most revolving credit comes in the form of credit cards, but it can also include any other type of revolving credit, such as a revolving loan.

Ideally, your credit card utilization should be 30 percent or less. For example, if you have $5,000 in revolving credit, your total balances should add up to no more than $1,500. To find out your utilization percentage, divide your total balance by your total credit then multiply the answer by 100.

03/22/2018

Hello everyone, Andrea McClelland and Ernest here,an its wealth building Wednesday. Check out this article on easy ways to invest.

Investing $10,000 is the next level for beginner investors. With so many options available it can be overwhelming making sure you choose the best investment for you. Here are 5 options to consider.

03/20/2018

Hello all, Andrea Amere McClelland an Ernest Harp here,and its money management Monday. Check out this article on money habits that help build wealth.

Have a paycheck? Now a side gig and a plan are all you need to (gradually) get rich.

03/01/2018

Hello friends, Ernest Harp and Andrea Andrea Amere McClelland just here. We just read an article about investing that we think is worth sharing. Let us know what you think.

It is time to forget the concept of Nest Egg and develop the concept of Nest Geese. It is the only way to build real wealth! 

03/01/2018

Hey guys! Its wealth building Wednesday and we just wanted to share a few thoughts.

Ernest Harp always discusses how wealth building is a mindset. Today we encourage to change the way you think about money and your life in general. Here are a few tips to get you started.

1) Take control of your life. Figure out what you are passionate about and pursue purpose driven success.

2) Take control of your environment. Ask yourself is the way I live my life leading me to a better future and opportunity to achieve my dreams?

3) Stop waiting and create your own opportunities.

4) Lastly, remember that money may buy freedom but purpose creates wealth. Follow the things that truly drive you and money will come.

Change your mind, change your money, change your life! Happy wealth building Wednesday!

02/22/2018

Good evening friends, happy wealth building Wednesday. Andrea Amere McClelland an I just wanted to share some information about increasing your credit scores. As you all know, knowledge is power, and understanding credit will help you accomplish your financial goals. We have used many of these strategies to increase our scores by over 100 points within the last year. Feel free to read the blog and watch the short video.

Which factors have a high impact on your credit score? How to dramatically increase your credit score in a few months by focusing on credit card utilization, payment history, and derogatory marks.

02/20/2018

Money Management Monday!

If there is one thing that we have learned about managing our finances, its the importance of an emergency fund! Things like job loss, a major medical expense, or home repair can really set you back. If you don't have one, start one today. Here's is a quick article on how to get one started.

Start saving today to keep unexpected expenses from leading to financial ruin.

02/15/2018

As you go out into the world today, remember that courage is not the absence of fear; it is action in the presence of fear. Live boldly, aggressively, and confidently.