Five Quick Tips to Improve Your Credit Score Before Applying For A Mortgage

A good credit score is something we all want and it can help you get a better interest rate as well. Before we get started though, the first thing you should do is get your credit report!
You can order it free here – https://www.annualcreditreport.com
Now that you have your report lets get to those tips! 🤓
1. Check for Errors!
You want the report to be clean and mistake free. Check if there are misspellings of your name or addresses. Other things might be duplicate accounts, incorrect account information, closed accounts that are still listed as open, fraud etc!
2. Clean up the Errors!
If you found something wrong the next step is to get the errors fixed.
You can contact the major three bureaus directly to fix any errors! Be prepared with paperwork to back up your case!
Here are links to the three bureaus on how to address errors:
https://www.experian.com/blogs/ask-experian/credit-education/faqs/how-to-dispute-credit-report-information/
https://www.equifax.com/personal/credit-report-services/credit-dispute/
https://www.transunion.com/credit-disputes/dispute-your-credit
3. Pay Late Or Past Due Accounts
This is important! Pay these off whenever possible. Here is a pro-tip: if you have an account with a late fee or in collection – contact them before paying and ask them to remove the record entirely if you pay the account off. This will really help your score!
4. Pay On Time
Ok this is obvious but its important too – even if its the minimum payment make sure you get the payments in one time – everytime.
5. Open New Accounts Or Increase Your Limits
This will help your credit to improve your credit utilization rate – how much of your available credit you use. The lower the rate used the better so don’t open a new card and max it out – just open it and use it a little and pay it off monthly if possible.
These are five quick tips that can really help boost your credit before you apply for a mortgage. If you are ready to apply contact us today and we will be glad to review the options with and see what best fits your needs!