Credit Score Tips for Home Buyers

A Great Credit Score Can Save You A Lot of Money Have you ever considered how much Money You can Save by having a Great Credit Score? If you currently have low credit scores, you may be wondering if you should pay money to improve your credit score.

that lenders will love. If you plan to buy a house in the near future, or even in the not-so-near future, this short video is full of some great information that will set you on the right path to realizing your real estate goals.

There is a lot of confusion around how credit scores are effected by one's credit card use. In fact, most of us don't think about any particular strategy or method to buying things using credit cards except not to go over the limit and to make our payments on time.

Understanding your credit score and how it's basically calculated can help you build a good score and maintain it. I recently attended a class with a lender and got some great information about credit scores. Here are my notes: Credit Scores are made up of 5 sub-scores, which all need to be kept in good shape over time: 1.

Credit advice abounds on the Internet today. A lot of it is great advice. Much of it is suspect. There is everything from where to pull your credit, to how to have a good score, and even how to dispute errors on one's credit report, but when you're a home buyer looking to ensure that your credit is mortgage ready, how do you know what is important to "highlight"?

Declined. It happens. It's kind of a negative topic, but it is something that home buyers may deal with sometimes, especially in these days of tighter lending standards. The good news is that it isn't a final sentence. It's just a temporary situation that can be fixed.

The following eight credit score myths are video segments of a conversation I had with my friend, Blair Warner, a Credit Counselor with Upgrade My Credit. The credit score is a very important component of the overall creditworthiness of a buyer, and demands attention.

If you have even mentioned to a Realtor or mortgage professional that you are thinking of buying a home soon, you no doubt have heard the term "pre-approval". What is a mortgage pre-approval? First, let's clarify what a mortgage pre-approval is NOT. It is not the same as a pre-qualification.

Although a foreclosure will do three times the damage, as much as 300 points worth, a short sale can decrease your score between 50 and 100 points, on average. The good news - recovering from the short sale is much quicker and much easier than recovering from a foreclosure.

Between the time your offer on a home is ratified, becoming a contract, and the time you go to close on the home, this is the time your loan is in process. You should not do anything that will have an adverse affect on your credit score.