Here’s a Quick Way to Add Assets to Your Credit Profile
November 15, 2006 | Credit | 
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When applying for a loan there are multiple factors considered which include credit score, credit history, income documentation, and assets.
Your assets include checking acounts, savings accounts, investment accounts, retirement accounts, life insurance?etc. ….all accounts with a cash value. Banks will quote rates based on the strength of the asset portfolio. The average lender wants a minimum of 2 months worth of income in asset reserves. The best rates available can require as much as 6 months worth of income in asset accounts.
To help increase your net worth prior to requesting a loan you can simply have a family member with assets add you to?an account even if you have no access to funds.?After a short time you can use the statements provided with your name on them as proof of additional assets. This is great for helping young adults become prospective homeowners. Ethically, they should remain on the account.
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