IGI Financial, LLC
IGI means to Inspire, Grow & Impact your credit and financial needs. Our clients success is priority!
03/20/2024
For those not yet owning homes, what obstacles stand in the way? Financial limitations, scarce appropriate housing choices, poor credit or economic instability perhaps?
04/28/2023
When you apply for a credit card, shop for a loan or prepare to take on a new financial responsibility (like renting an apartment), the lenders and companies involved want to know whether you’re likely to be a financial risk. By conducting an inquiry into your credit history, these companies are able to assess your level of financial responsibility and the likelihood that you might default on your loan, miss credit card payments or skip out on rent.
There are two different types of credit inquiries: hard inquiries, which can have a negative effect on your credit score, and soft inquiries, which don’t affect your credit score at all.
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LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/28/2023
Hard inquiries occur when you apply for financing, such as a loan or credit card, and a lender reviews your credit report during the application process.
Some examples of when your credit might undergo a hard inquiry include applying to rent an apartment, applying for a mortgage, applying to refinance a loan, such as a mortgage, and opening a new cellphone account.
Hard inquiries can stay on your credit report for up to two years and can impact your credit score for up to one year. It's important to note that while hard inquiries can affect your credit score, the impact is generally small and temporary.
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LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
Some examples of soft inquiries include checking your own credit report, employment-related credit checks, account maintenance credit checks from current creditors, and preapproved offers.
Soft inquiries do not impact your credit score.
Another example of a soft inquiry is when a potential employer views your credit report for a background check, but they need your permission to do so.
Checking your own credit scores and reports is also an example of a soft inquiry. Soft inquiries are not visible to potential lenders, and only you can see the soft inquiries that appear in your credit file.
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04/27/2023
When you’re buying a home or car, don’t let a fear of racking up multiple hard inquiries stop you from shopping for the lowest interest rates.
FICO gives you a 30-day grace period before certain loan inquiries, like those for mortgage or auto, are reflected in your FICO® credit scores. And FICO may record multiple inquires for the same type of loans (again, like mortgage and auto) as a single inquiry as long as they’re made within a certain window. This window is typically about 14 days.
While some lenders can rely on scoring models that give you more time to shop without incurring an additional hard inquiry, you may want to stick to 14 days to do your comparison shopping, since you likely won’t know which scoring model a lender relies on to generate your score.
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LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/27/2023
HOW MANY HARD INQUIRIES ARE TOO MANY
The number of hard inquiries that are considered too many can vary depending on the lender and the individual's credit history. However, a general rule of thumb is to avoid having more than six hard inquiries on your credit report within a six-month period.
Having six or more hard inquiries can significantly impact your credit score and make lenders more likely to deny you, even if your score is otherwise sufficient.
It's important to note that while hard inquiries can affect your credit score, the impact is generally small and temporary. Additionally, there are exceptions to this rule, such as when you're shopping around for a mortgage or car loan.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
The main difference in the impact on credit scores between hard and soft inquiries is that hard inquiries can lower your credit score, while soft inquiries do not.
A hard inquiry occurs when you apply for a new line of credit, such as a credit card or loan, and a creditor requests to look at your credit file to determine how much risk you pose as a borrower.
Hard inquiries show up on your credit report and can affect your credit score. On the other hand, a soft inquiry occurs when you check your own credit or when a company wishes to prequalify you for a loan offer, but you haven't yet submitted a full application.
Soft inquiries do not impact your credit score. The impact of hard inquiries on your credit score tends to lessen over time.
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04/26/2023
We recommend checking your credit reports often. If you spot any errors, such as a hard inquiry that occurred without your permission, consider disputing it with the credit bureau.
This could be a sign of identity theft, according to Experian, one of the three major credit bureaus. At the very least, you’ll want to look into it and understand what’s going on.
Keep in mind, you can only dispute hard inquiries that occur without your permission. If you’ve authorized a hard inquiry, it generally takes two years to fall off your credit reports.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/26/2023
HOW LONG DO CREDIT INQUIRIES STAY ON YOUR CREDIT REPORT?
Hard inquiries can stay on your credit report for up to two years. However, the impact of a hard inquiry on your credit score typically only lasts for one year.
The initial impact of a hard inquiry on your credit score is usually a drop of about 10 points. It's important to note that while hard inquiries can affect your credit score, the impact is generally small and temporary.
Additionally, lenders may be concerned if you have too many hard inquiries on your credit report within a short period of time, as this can be viewed as a sign of risk.
However, there are exceptions to this, such as when you're shopping around for a mortgage or car loan.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
The main difference between a hard inquiry and a soft inquiry is that a hard inquiry can impact your credit score, while a soft inquiry does not.
A hard inquiry occurs when you apply for a new line of credit, such as a credit card or loan, and a creditor requests to look at your credit file to determine how much risk you pose as a borrower.
Hard inquiries show up on your credit report and can affect your credit score. On the other hand, a soft inquiry occurs when you check your own credit or when a company wishes to prequalify you for a loan offer, but you haven't yet submitted a full application.
Soft inquiries do not impact your credit score.
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04/25/2023
No. This is reported as a soft credit check, so it won’t lower your scores. You can check your VantageScore 3.0 credit scores from two major credit bureaus, Equifax and TransUnion, for free at Credit Karma as often as you like without affecting your credit scores.
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LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/25/2023
Hard inquiries (also known as “hard pulls” or “hard credit checks”) generally occur when a financial institution, such as a lender or credit card issuer, checks your credit when making a lending decision. They commonly take place when you apply for a mortgage, loan or credit card, and you typically have to authorize them.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
Hard inquiries may stay on your credit report for up to two years. However, their potential negative effects on your credit score typically won't last nearly that long. A hard inquiry typically won’t affect your score after 12 months.
It's important to note that making multiple inquiries in a short window counts as a single inquiry when you shop for a mortgage, student loan, or auto loan.
The amount of time you have to shop varies by the type of credit score. Newer versions of FICO scores typically give you a 45-day window for such inquiries, while VantageScores have a shorter window for hard inquiries, which is 14 days.
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04/24/2023
Hard inquiries are different from other inquiries listed on your report because they will affect your FICO score. Anytime you give a lender permission to pull your credit, it’ll be reported on your credit history.
So is there a way to dispute a hard inquiry and have it removed? A single hard inquiry can affect your score by as much as 5 points. Several hard inquiries close together can have a greater impact: they make you look like you’re desperate for credit.
A hard inquiry can stay on your report for up to two years, but its impact will diminish well before then.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/24/2023
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LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/21/2023
More negotiating power: If you have a high credit score, you may have more negotiating power when it comes to purchasing a home. A strong credit history can demonstrate to sellers that you are a reliable borrower, which may give you an advantage in the negotiation process. Additionally, having a high credit score may allow you to request concessions or other favorable terms from the seller or lender.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/21/2023
This quote encourages us to stay committed to the credit repair process. It may not be easy, but by putting in the effort to pay off debts, lower our credit utilization, and dispute errors on our credit report, we can improve our credit score and enjoy the financial benefits that come with it.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/20/2023
Easier approval for other types of credit: A high credit score not only helps you qualify for a mortgage, but it can also make it easier to obtain other types of credit, such as a car loan or credit card. This can be especially helpful if you need to make additional purchases or repairs for your new home.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/20/2023
This quote encourages us to take action in the present, even if we missed opportunities in the past. If you're dealing with poor credit, it's never too late to start repairing it. Start by making a plan and sticking to it, and eventually, you'll see your credit score improve.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/19/2023
Better loan terms: In addition to interest rates, lenders may offer more favorable loan terms to borrowers with high credit scores. For example, you may be able to qualify for a larger loan amount or a longer repayment period if you have a strong credit history.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/19/2023
This quote reminds us that our actions have consequences. If we consistently miss payments or have a high level of debt, our credit score will reflect that. However, if we make payments on time and keep our debt levels low, our credit score will improve.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/18/2023
Lower interest rates: A high credit score can help you secure a lower interest rate on your mortgage, which can save you thousands of dollars over the life of the loan. On the other hand, a low credit score may result in a higher interest rate, which can increase your monthly mortgage payments and make your home more expensive over time.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/18/2023
This quote highlights the importance of living within our means. Overspending can lead to high levels of debt and financial stress. By only spending what we can afford to pay off each month, we can avoid falling into the cycle of debt.
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LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/17/2023
Qualifying for a mortgage: Credit scores are one of the primary factors lenders consider when deciding whether to approve a home loan application. A high credit score can help you qualify for a mortgage with a lower interest rate and better loan terms, while a low score may result in higher interest rates, larger down payment requirements, or even denial of the loan application.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/17/2023
This quote reminds us that a little bit of savings can go a long way in credit repair. By managing our finances and creating a budget, we can carve out some extra money to put towards paying off debts or fixing our credit score.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/15/2023
You may save hundreds of dollars in interest by having an excellent credit score.
Credit scores are important. Always keep an eye on it and keep track of it.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/14/2023
Credit repair services can help you save time and achieve the best results. Many individuals attempt this work without expert guidance, which may have bad outcomes. These are some information on credit repair that you should be aware of.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/14/2023
Car insurance rates: Car insurance companies often use credit scores to determine rates.
People with bad credit may be charged higher rates for car insurance.
Overall, bad credit can make it more difficult to access credit, housing, employment, and other opportunities,
and can result in higher costs over time.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
04/13/2023
Recovering from bad credit is possible, but it can be a lot of hard work. It's time to start rebuilding your credit now.
Book your consultation now!
LINK TREE:
https://linktr.ee/igifinancial
[email protected]
📞 Office: (832) 909-6372
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Inspire. Grow. Impact.
IGI means Inspire, Grow and Impact. The name itself was inspired by me and my daughters initials. Which is why my company represents family. My journey begin as a young single mother trying to make ends meet. At that time I didn't understand the importance of credit and how much it would effect my life. After many mistakes I decided I wanted financial freedom and in doing so I knew I needed to do something about it. That's when I began to do my research and take classes to educate myself. Now that I have successfully reached my goals, I want to help others meet theirs as well. I personally feel everyone has the right to not be held back due to lack of knowledge. Allow me to Inspire you, Grow with you and Impact your credit and financial needs.
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Contact the business
Website
Address
11811 North Freeway Suite 500
Houston, TX
77060
Opening Hours
| Monday | 8am - 5pm |
| Tuesday | 8am - 5pm |
| Wednesday | 8am - 5pm |
| Thursday | 8am - 5pm |
| Friday | 8am - 5pm |
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