Posted by on

What You Can Do To Improve Your Credit?

Written by June Holder

What You Can do to Improve Your Credit?

Part 2

Last month we discussed some issues that can have an effect on your credit score and how the credit bureaus gather that information about a buyer.  Here are more tips

and education on improving your credit score.  Credit scores, along with your over all income and debt, are big factors 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:

1. Check for and correct any 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.  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 order items for your new home on credit – such as appliances and furniture – 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.  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.

*This information is copyrighted by the Fannie Mae Foundation and is used with permission of the Fannie May Foundation.  To obtain a complete copy of the publication, “Knowing and Understanding Your Credit”, visit www.homebuyingguide.org.
We will be giving more information out to new buyers with their utmost safety and interest in mind.  Our company is dedicated to bringing information to our clients that will help them make the best decision for them and their families.  We are most concerned in happy clients, Good Luck with the search on your new home!

What Our Customers Are Saying

Very pleased. Joel was professional and honest. When asked, he gave his opinion, but did not try to over sell. He was very responsive, but also was respectful of our space. Our relationship seemed genuine and he gave us great personal attention. H...

Ferrin Affleck

Paige Marsh was the best real estate agent I have ever worked with and I have worked with at least 15 agents in the past 20 years on residential or commercial sales or leases. I work in Sales for a landscape company and I understand what it takes ...

Rob Archer

Paige was always calm, listened to our interests and concerns, and gave careful attention to details. She acted quickly when time was an issue and didn't become frustrated with us when we changed our mind after making an offer. Paige worked with u...

R & R Fawson

For several months,my husband and I were struggling in trying to find a home that would fit our needs. We started working with Paige from The Bird Team and within 1 week Paige found us the perfect home that suited our needs. She was very knowledge...

Lance & Brenda

My wife and I had a great experience working with Paige! She was ALWAYS available to answer our many questions, often at very early or late hours. On the rare occasion she didn't have an answer, she would find us the answer within minutes! She is ...

Steve & Micki

Joel is an honest and straight forward agent. Takes the stress out of all transactions, understands the market, a true asset to buyers and sellers alike. Have bought and sold with Joel and will suggest to all of my collegues and friends.

Jason Killebrew

Joel was very professional during the whole process. I appreciated his quick responses to my calls and texts. I felt he was really helpful without being pushy. He took the time to listen to my concerns and answer my questions. I would definitely r...

Aeme Skelton

Scott provided me with a lead on an investment property that turned out to be just what I was looking for. I quickly cleaned it up a little and he put it on the market to flip it. Within a month I had multiple offers and was able to close with a v...

Tom Comstock

Scott's knowledge of market conditions and realities of the market was a big help in deciding whether the offer was reasonable and should be considered. Scott was very even handed in dealing with the issues of the sale and dealing with the facts n...

Joe

Scott is the best realtor in the area he helped me out of several problems with my loan and several other things involved with my purchase. I'm in California it was hard for me to expedite the things that I needed to in Utah and Scott and his tea...

Kevin

Read More Testimonials »