How to Get Your Credit Ready For a Mortgage
If you have a tendency to be forgetful, consider setting up your bills on automatic payment. Keep your credit card balances low. This is the next most important factor in your credit score, so do what you can to keep your debt as low as possible and pay off what you can. Open credit only when you need it. When issuing a pre-approval we check the borrower’s credit report . If there are any issues revealed, they may need to address them up front, or may simply want to take time to improve their score overall to better qualify. However, borrowers need to be careful about online agencies that offer to fix credit issues. As with so much these days, there are plenty of scammers that try to take advantage of people. A few basics: You are entitled to FREE copies of your credit report You can contact credit bureaus to address issues yourself Legitimate credit counseling organizations exist, and do not charge any upfront fees It cannot be emphasized enough, once a home loa...