Credit Score Boost: Mortgage rates have plunged to record lows, below 4 percent. However! some people are still having difficulty qualifying for a mortgage. Lenders have tightened their underwriting standards, leaving many would-be home buyers out of luck. A credit score below 620, will knock most potential buyers out of the running for a mortgage, and even if they can qualify for a loan, lenders reserve their best interest rates for borrowers with the highest credit scores, typically 740 and above, and that is one of the reason why we recommend a credit score boost. To see where you stand, start by checking your credit report, which is available free at www.Annualcreditreport.com, preferably at least six months before you are ready to shop for a home.
You can get a free report once every 12 months from each of the three credit reporting companies: Experian, TransUnion and Equifax. Make sure there are no mistakes on the report; for example, if you see incorrect reports of outstanding balances or late payments, you should dispute them with the credit reporting company to help you with a credit score boost. These reports are the basis for the credit score created by FICO. The score, which ranges from 300 to 850, is used by lenders to determine whether you are eligible for a loan, and at what interest rate.
How To Repair Your Credit or a Credit Score Boost: Living with bad credit in America today is possible, but it's tough. Bad credit make many things difficult, impossible, or more expensive. for example, did you know insurance companies often charge a higher interest rate for drivers that have bad credit scores? If you are getting new utilities turned on in your name, the company will check your credit to decide whether you should pay a security deposit. We all know that banks check credit scores before they give you a credit card or a loan. As years go by, the list of companies who check your credit will probably grow instead of shrink
Why Pursue Credit Repair? Credit repair is critical to saving money on insurance, loans, credit cards and to give you a credit score boost, but that's not the only reason to repair your credit. A Credit Score Boost gives you better employment opportunities, even promotions and raises with your current employer. If you dream of starting your own business or just want the security of knowing you can borrow money when you want to, you should repair your credit sooner rather than later.
Do It Yourself Credit Repair You have probably seen advertisements for credit repair on television or heard them on the radio. I've even seen credit repair signs on the side of the road. Don’t let anyone fool you into thinking you need to hire a professional to repair your credit. The truth is, there is nothing a credit repair company can do to improve your credit that you can’t do for yourself. Save some money and the hassle of finding a reputable company and repair your credit yourself. The next steps will show you how.
In the present Maryland residential real estate environment, where current or potential homeowners and/or renters have debt and credit challenges, real estate brokers like Mariano Simms has offer and provide free credit improvement and sometimes repair services along with real estate-related work.
The Simplest ways to Improve your own Credit Score! or to get a Credit Boost
By paying your bills on time, can definitely help to improve or boost your credit scores.
(5) Things That Can Help:
- (1) Pay down revolving credit first
- (2) Improve your debt to ratio to less than 50%
- (3) Do not close old accounts once they are paid off
- (4) Pay all credit card balances to 30% or less of your credit limit
- (5) Make more to pay your minimum payment on time
Credit Score Boost
Check your Credit score before you start looking to buy your new home:
- * Check your credit rating. Straighten out any errors before it's too late.
- * Determine a comfortable monthly budget for your new purchase, including down payment and monthly payment.
- * Find a loan program that meets your needs and get pre-qualified (preferably pre-approved).
- * Choose a REALTOR that you trust and who understands your needs.
- * Determine what neighborhood best matches your needs.
- * Identify important features you need your new home to have.
If your credit score is below 600, and you wanted to purchase a home no need for you to worry, we are associated with mortgage affiliates who has programs for various different credit challenges and can work with as low as 580 Credit Score
We provide free credit assistance to our home buyer clients to help to improve they credit score. contact us for more info on how to get a credit score boost.