Check Out This Credit Repair Video

Remember, McArthur Homes is offering FREE Credit Repair from Nitro Credit from those who purchase a new home. For more information, email kristi@mcarthurhomes.com.

The Low Down on Credit Scores

Credit scores can be confusing and frustrating. The good news is that once you understand how to build your credit, your credit score can be your best friend. Check out the table below to see how building good credit can save you thousands of dollars on your new home.  I've also posted some information on how your credit is calculated. Thanks to Nitro Credit for all the helpful info. They are experts at credit repair!

Want to learn even more about building your credit? Join McArthur Homes and Nitro Credit for a FREE Credit Repair Seminar on November 6th at 10:00am. Located at the Thanksgiving Meadows Clubhouse, 3790 N. Bluegrass Blvd, Lehi Utah. For more information email jesse@mcarthurhomes.com




Our lives revolve around credit and FICO scores but sadly some people never realize it until it is too late. The chart below shows how much more someone with a lower credit score would pay over the term of a 30-year conventional mortgage loan for $200,000.
(5/2009)

Credit Score	Interest Rate	Cost of Your Credit
720-850	4.75%	$0.00
700-719	5.125%	$16,668.00
640-699	5.67%	$41,392.80
600-639	6.5%	$79,506.00

Your credit score is calculated based on credit-related information contained in your credit file. This information is analyzed in five different ways to produce a three-digit FICO score.

1. Payment History:
    35% of your score is based on paying your credit related accounts. Late payments and other negative marks drop your score quickly.
2. Credit Utilization:
    30% of your score is based on how much credit you have and how are you using it. If you are close to utilizing the maximum amount of credit limit provided you, this can reflect negatively on your score.
3. Length of Credit History:
    15% of your score is based on good payment history over a period of time.
4. New Credit Inquiries:
    10% of your score is based on the number of inquires coming from creditors.
5. Types of Credit:
    10% of your score is based on having different types of credit accounts such as home mortgage, vehicle, credit cards, etc.

New Herriman Library Opens Across from Herriman Towne Center

The brand new Herriman Library has just opened up across the street from McArthur Homes' Herriman Towne Center homes. The library's Grand Opening was Saturday, October 23rd. Local families flocked to the library to celebrate this exciting event, the start of many new facilities opening up at the heart of Herriman. The beautiful new library is located next to the new Herriman Recreation Center, which is currently under construction. The address is 5380 West Main Street. Click here for more information on the library, including upcoming events.

Come check out the beautiful new library, and while you're there, stop across the street to view McArthur Homes' newest community, Herriman Towne Center. Our model home is under construction and will open soon at this amazing location! For more information, email kristi@mcarthurhomes.com

Tips for Keeping Good Credit

Working in the home building industry, I have seen many people who have been held up from building their dream home, simply because their credit scores were too low. McArthur Homes has recently teamed up with Nitro Credit to help our homebuyers improve their credit scores. We are offering FREE CREDIT REPAIR to those who purchase a new McArthur Home.

Here are a few tips from Nitro Credit on how to keep good credit. I'll also be posting tips and ideas for building and repairing credit, so check back!


 It is very imperative that you continue to work to keep your credit scores high. A lot of people work hard with credit restoration companies and are able to get their terrible credit back in a place where they want it to be.

The trouble happens when the customer falls back in to their bad habits. They don’t maintain the good credit that they achieved through credit restoration. This can be very frustrating, especially to customers that really worked hard to achieve credit restoration. Here are some tips for helping maintain good credit once you restore it.

1. Stay on top of the amount of debt you have. Your credit card balance needs to stay 25% below the limit ideally. It is a good rule of thumb to remember to only charge what you can pay off every month.

2. Take advantage of bills that have the automatic pay option. This allows the deductions to come out right after you receive your paycheck. That way you aren’t late, and you know you have the money to cover the bill.

3. Don’t put up a lot of credit inquiries. Keep it down to a minimum. You may be used to applying for a few different lines, but stop that habit now. Only apply for lines that are essential and that you know you can pay off.

4. Pay your bills on time. You know this is important, but make a plan to get it to happen. Set up the automatic pay option, mentioned above, or make notes on your calendar when your bills are due. If you are forgetful, set up multiple alarms throughout the day so you don’t forget.

5. Don’t accept every credit offer that comes your way. Be picky about what lines you use. You want to be sure that you actually need it and know you will be able to afford it and pay it back.

6. Be smart and safe about your credit. Credit can quickly be ruined by others through identity theft. Be sure to have identity theft protection measures to prevent this from easily happening.