Top 5 Hacks to Boost Your Credit Score for Home Buying
Ready to buy a home this year but know your credit score needs work? You’re not alone. The average credit score in the U.S. is 695 according to the AAA Credit Guide, which is considered to be fair on a scale of 300 to 850. Because your credit score affects everything from qualifying for a car loan to, in some cases, qualifying you for employment, it makes since that having the best score will help you obtain your real estate goals. Here are the top 5 hacks to boost your credit score for home buying.
- If you have any collections or judgments against you, pay them off as quickly as possible.
- Pay all your bills on time by utilizing payment reminders or automatic bill pay options.
- Don’t close your credit card accounts because then you’ll be using a higher percentage of your overall credit limit.
- Try to reduce your credit card debt to twenty-five percent or less of your credit line on each card.
- Pull your credit report at least once a year to review any discrepancies
The sooner you begin implementing these top 5 hacks to boost your credit score for home buying, the easier it will be when it’s time qualify for a home loan. If you’re ready to buy a Phoenix home, please contact The Voss Team today to assist you with your home buying needs.
The Voss Team
7111 West Bell Road Ste 101
Glendale, Arizona 85308
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