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:

Pay on time- making your payment on time is key to improving your credit score.

Back it up- Lenders don't like to see you near the max of your available credit limit.

The older the better- Keeping an account in good standing for a long period of time demonstrates responsibility.

Just say no- Don't apply for new credit. Each hard inquiry cost your credit score up to 50 points.

Mix it up- Lenders like to see that you can manage different types of credit: credit cards and store cards, auto and student loans, ect.

Wait it out- You're penalized for credit mistakes but if you wait at least 12 months the penalties lessen.

Don't do quick financing companies- Even if you pay the loan on time, it can be considered a sign of poor credit management.

Get it done- Shop for mortgage rates all at once. Too many applications can lower your score, but multiple inquiries from the same type of lender are counted as one if submitted in a short period of time.

If you think you are ready to start looking at mortgages partner with a realtor. Our agents are the best-trained, most professional REALTORS® in the business and are prepared to provide you with the best service possible. They can suggest a professional lender to assist you.

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