If you are thinking about purchasing a home a good credit score is a must. Depending on how you think your credit is and where you are in the buying process determines your next steps. If you are buying in the near future, your loan officer will be able to check your credit for you and will determine if you need to do anything to improve your score or not. If you are not buying right away or are unsure as to how your credit looks you may want to get a free copy of your credit report and also work on improving your credit score before going to a mortgage banker.
AnnualCreditReport.com is the site to go to once a year to check your credit report and it is free of charge. It is a good idea to check it yearly just to make sure the information is current and correct, even credit bureaus make mistakes.
If you are just looking to increase your credit score there are a few simple things you can do to bring it up.
This may seem like basic information, but it is always surprising how many people have poor credit scores and don’t know why. Follow these tips to get your score up to par.
If you are thinking about buying a home one of the first things you need to do is check on and perhaps improve your credit score. Whether or not you can get financing and what kind of financing you can get depend a lot on your credit score. If you score is not up to par you will need some time to work on it before you can get pre-qualified for a mortgage which also has to be done before you can buy a home. (more…)