Early on in the home buying process, you should review your credit situation. That way, if you need to improve your credit score, you can start right away.
Improving a credit score takes time, so you want to find out where you stand by (A) obtaining your credit report and score, (B) comparing yourself to the national average, and (C) working to improve your credit score if necessary.
Here are some resources to get you started:
10 Ways to Boost Your Credit Score
This excellent article is written by a mortgage expert, and it provides specific advice on how to improve your credit score in advance of buying a home.
Improving a Credit Score
Here we have gathered advice from BankRate.com, CNN Money, and a wealth of other expert sources.
All About Your Credit Report
Your credit report is different from your credit score. Banks use your credit report to create your credit score, which determines how likely they are to loan you money. This article explains the credit report in more detail, also providing instructions on how to request and review your credit report.
Remember, the better your credit score, the better your chances of qualifying for a mortgage at a good interest rate. So be proactive in maintaining good credit. Start early and focus on the long-term.
Happy home buying!
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