8 Ways to Improve Your Credit
Credit scores, along with your overall income and debt, are
a big factor in determining if you'll qualify for a loan and what loan terms
you'll be able to qualify for.
1. Check for and correct errors in your credit report. Mistakes happen, and you could be paying for someone else's poor financial management.
2.
Pay
down credit card bills. If possible, pay off the entire balance every month.
However, transferring credit card debt from one card to another could lower
your score.
3. Don't charge your credit cards to the maximum limit.
4. Wait 12 months after credit difficulties to apply for a mortgage. You're penalized less for problems after a year.
5.
Don't
purchase big-ticket items for your new home on credit cards until after the loan
is approved. The amounts will add to your debt.
6.
Don't
open new credit card accounts before applying for a mortgage. Having too much
available credit can lower your score.
7.
Shop
for mortgage rates all at once. Too many credit applications can lower your score,
but multiple inquiries from the same type of lender are counted as one inquiry
if submitted over a short period of time
8. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management.
ADVANTAGE JANES REALTY cooperates fully with all other real estate companies and we have access to all available listings in our area. As experienced Real Estate professionals, we will provide the dedication, honesty, and outstanding service that each client deserves. I look forward to working with you.
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