The Greatest Investment You Can Make For Your Future Is Building Great Credit!
First Sterling Management CEO, Antonio Givalli, shares the importance of establishing good credit. He highlights how a good credit score could elevate your lifestyle. There are endless benefits to have a good credit score, and Givalli details what you need to achieve a score of 750 or higher.
Givalli explains the benefits of a good credit score when making big purchases, such as home financing. To get a home loan, credit scores are highly assessed. “A mid score is considered to be 640 and verifiable income. A great score is around a 720 score. That you can likely get 98% financing on your Federal Housing Administration (FHA) loan; if you’re a first-time homebuyer, you can utilize the FHA, and they have a first-time buyers program that will give you up to up to 90% financing.” Yet another benefit of an excellent credit score is the ability to build equity. Givalli explains, “As you pay down the loan [FHA loan], that loan is now added into your equity in the home. You started storing equity from day one, and you didn’t have to put any money up to do it.” Givalli assures if you have a good credit score and verifiable tax returns, you are in a great position to become a homeowner.
Another benefit to good credit is getting approved for credit cards! Givalli says, “An ideal credit gives you the ability to get approved for revolving credit, credit cards, department store cards, etc. Let’s imagine you already have a $10,000 credit card, and on your credit report, that card is six months to a year old. You then apply for another credit card, with a different institution, it’s likely they’re going to approve you for the same $10,000 if not more.” Having more access to credit will allow you to build your credit and increase your credit score. Through doing this, you also increase your access to capital. Givalli says, “Now you’ve got a total of 15 new credit cards, and each one of them gave you a $10,000 access just in your credit. So accessing that type of funding, you can get into a lot of debt or utilize it and leverage it. You can obtain rewards and take advantage of that system. The reward system allows you to have flight miles, hotel stays, travel perks, cashback rewards, sporting event tickets, etc.” It’s all part of a bigger and better lifestyle, explains Givalli.
Good credit makes your life easier. In times of struggle, credit can help you stay on track with bill payments. Givalli says, “I think everyone has gone through a time of struggle where at the moment they don’t have no access to cash.” Credit can help ease those stressful times while also helping to build your future.
The greatest investment is your own future. Credit is a perfect way to invest in yourself, “Get into a position where you could start investing in your own life. You could fund a real estate investment if you wanted to get into real estate. You could buy into rental income properties or commercial properties. You can also find small business startups, let’s say you wanted to start up a salon, or your clothing line, your music label, whatever your passion may be. It’s always the what if I had the money? If you concentrate on your credit and building that out, then your ability to access money is going to come in time.”
All it takes is a strong credit score and the drive for excellence. Givalli says, “With good credit, your opportunities become boundless.” First, Sterling Management is the team you need to help you get there!
Check out Antonio Givalli new Youtube video below!!
