When you are looking to buy a home, a car or make a similar large purchase, you want to know that your credit is in good shape. It is also important to understand how your credit report and scores are managed, as well as how lenders look at them.
Let’s say your client is in the market for a big purchase. They come to you for a loan to buy a house, a car, maybe a boat, or another sizeable item that requires a loan. The first thing you as a lending professional should do to make a determination on a loan request is to evaluate the client’s creditworthiness, which will better inform the client’s chance of repaying their loan.