Lisa Jefferson Atlanta Homebuyer Advice Column
What You Can Do to Improve Your Credit
Credit scores, along with your overall 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. Click here to order your credit report.
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.
lisajeffersonhomebuyers.com
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