DIY Improve Your Credit - How To

Dated: May 19 2020

Views: 220

Credit scores play a big role in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following:

Check for errors in your credit report.

Thanks to an act of Congress, you can download one free credit report each year at annualcreditreport.com. If you find any errors, correct them immediately.

Pay down credit card bills.

If possible, pay off the entire balance every month. Transferring credit card debt from one card to another could lower your score. Don’t charge your credit cards to the max. Pay down as much as you can every month. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less severely for problems after a year.

Don’t order items for your new home on credit.

Wait until after your home loan is approved to charge appliances and furniture, as that will add to your debt. Don’t open new credit card accounts. If you’re applying for a mortgage, having too much available credit can lower your score.

Shop for mortgage rates all at once.

Having too many credit applications can lower your score. However, multiple inquiries about your credit score from the same type of lender are counted as one if submitted over a short period of time.

Avoid finance companies.

Even if you pay off their loan on time, the interest is high and it may be considered a sign of poor credit management

Blog author image

Kenneth Manesse

Helping you experience something new in Las Vegas that's guaranteed. Real Estate with less stress!....

Latest Blog Posts

Big Bathroom Impacts from Small Changes

Nobody likes a small bathroom. Unfortunately, a lot of houses have them. If you live in a home with a bathroom that makes you feel a bit claustrophobic, you might think that there isn’t much

Read More

Home Prices Up 15% Across the Nation.

Housing demand is easing while supply is slightly improving, narrowing the demandsupply gap. Preliminary data from (National Association of REALTORS - see complete details here) shows that

Read More

Final Walk-through - What Buyers Should Look For in Las Vegas.

Buyers often don’t realize that the final walk-through before closing is a vitally important part of the homebuying process. They should be reminded that this final walk-through can determine

Read More

Give your homes curb appeal a significant boost.

You might think that it takes a lot of work and money to update the curb appeal of your home, but that doesn’t have to be the case. It’s possible to significantly increase the curb

Read More