Chris Oxley, Elevations Credit Union

Chris Oxley, Elevations Credit Union

LONGMONT – Misunderstandings around credit scores can complicate the mortgage loan application process. And having a better credit score generally means getting a lower mortgage rate. Understanding how to take charge of and improve your credit score can result in a smoother process and savings.

Your credit score is a calculation based on how long you’ve been using credit, the kinds of credit you’ve used, how you’ve handled payments, and how you’re currently using credit. The higher the score, the better.

One of the most common complications in the mortgage process occurs when an applicant is hesitant about applying for a mortgage loan because of previous credit events such as Bankruptcy, Foreclosure or collections.

Credit can be forgiving if you take the time to monitor it and correct your issues, and then allow time for your credit to be rebuilt. After you’ve been paying debts on time or paying debts off, you can see a drastic credit score change upward within six months to one year. For more on this subject, visit the Elevations blog at

Chris Oxley is a Mortgage Loan Originator at Elevations Credit Union in Longmont. If you have questions regarding mortgages, please call 720.552.1018 or
e-mail [email protected].

By Chris Oxley, Elevations Credit Union