7 Tips to Boost Your Credit Score Before Buying a Home
Ready to buy a home? Before you do, be sure to look at your credit score. After reviewing your credit score, focus in particular on the negative items to see if there are ways you can address them and bring your credit score up.
There is no “quick fix” when it comes to boosting your credit score, but you can follow these 7 tips to help improve your credit score over time:
1. If you happen to have any collections or judgements against you, pay them off as soon as you are able.
2. Bring those over-the-limit and past due accounts up-to-date.
3. Always pay all of your bills on time.
4. Try to reduce your credit card debt to 25 percent or less of your credit line on each card.
5. Do not open any new lines of credit.
6. Do not close your current credit card accounts because then you will be using a higher percentage of your overall credit limit.
7. If you have an old credit card that you have not used in some time, use it and then pay the bill in full to show that you can responsibly handle credit.
By following the tips above when it comes to your credit score, you can ensure that your chances will improve when it comes to the approval of your home loan.