As you know, credit scores have become more important than ever when it comes to purchasing a home or anything else for that matter. You can improve your credit score by following these simple rules and the sooner you start, the greater your chances will be:
Make sure your balances are not near your credit limit. If you owe $1500 and you are at your credit limit, this will affect your score negatively. Get your balance down to 50% of your limit if possible.
Take time to verbally dispute inaccurate late payments by calling the creditor and asking them to remove the late by getting a letter that the late pay was reported in error. Make sure it is sent to all 3 bureaus immediately, time is your best asset.
Do not pay anything late! If you make a mistake, call immediately and tell customer service you made an error and ask to have the late payment removed.
Don’t disregard paying a collection even if it is an error! Make payment arrangements over a long period BEFORE they report you and then fight it. Once reported, do not attempt paying them off before we have run credit again as this may cause a more recent re-reporting and make your score dip.
If you have filed for bankruptcy, make sure and “clean up” your credit by ordering through the bureaus and sending a copy of your BK papers and always, immediately start re-building your credit through secure credit cards.
If your credit is beyond easy fixes, you may want to hire a credit repair company- I can recommend one to you.
Don’t purchase a car or make large credit card purchases while qualifying for a home. This could affect your “Debt to Income” ratio used to get you qualified.
I will help you on your path to purchasing or refinancing your home. I appreciate your loyalty and business. Ultimately you are in control of your credit and must treat good credit as the high priority it has become, start now as this takes time.