If you are in the market for buying a home or looking to buy a home in the future, it is important to know your credit rating.
Not sure where to start? Click here to get more information on starting the home buying process.
Here are 5 Tips For Building Excellent Credit:
- Pay on Time
Payment history is the largest part of your FICO® score at 35%, so pay your bills on time to keep your score high.
- Keep Balances Low
Aim to use less than 30% of your credit limit. High balances will bring your credit score down.
- Monitor Credit Score
Check your credit score regularly to know where it is currently at. If it is lower than expected, review your credit report and check for errors.
- Patience is Key
Negative points on your credit report are frustrating, but be patient and keep your finances on track.
- Think Before You Shop
Research any credit cards or loans before you apply for them. Hard inquiries on your credit report make a large impact on your score.
It is always a good idea to keep all of the above in mind especially when purchasing a home in the near future.
Have any questions, contact Raelyn Hayes at (909) 268-1513.
