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Clean Up Your CREDIT SCORE and SAVE!



Like clockwork, April’s the month for Spring cleaning. And just like your home, your credit score sometimes needs some attention too!

 

Your credit score is a key factor that influences whether or not you qualify for a mortgage.

 

This 3-digit number is so powerful, it can affect the rate you lock in, and even determine whether or not you get the loan!

 

Here are some tips to keep your credit score in good shape…

Pay your bills on Time!

You already know that your credit score takes a hit with late or missed payments. Pay attention to those easy to forget culprits, too.

 

Keep an eye on automatic payments that get declined when your card expires or gets replaced. Stay on top of your medical bills, gym memberships and parking tickets.

 

Keep your balances low!

According to Experian, using less than 30% percent of your credit limit is best.

 

If you are using more than 30 percent, make a plan to pay down your balances. When you are applying for a mortgage, it’s a good idea to avoid any large purchases until your new mortgage loan has funded.

 

Check your credit report!

The federal Trade Commission (FTC) found that one in five credit reports have a mistake that can lower your credit scores!

 

Everyone has access to a free credit report, annually, from each of the three credit reporting bureaus, so check yours for errors.

 

Use the Experts…Us!

We can help you overcome barriers to borrowing. We will help you understand exactly where your credit stands and relate your results to the real world of mortgage lending.

 

Call us today!




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