Shaping Up – Getting Your Credit Healthy for Home Ownership
The best way to get your credit ready for home ownership is to start yesterday. Yes, it’s true – the best way to get started is to prepare and be mindful with choices and purchases going forward. You must lower your debts, and stay on top of your bills.
Credit Karma – Monitor your credit and start by understanding your scores. According to Credit Karma “When you check your credit, you may see multiple credit scores from different credit bureaus. A minor difference between scores might not concern you. But a big variance may leave you wondering what accounts for the discrepancy — and whether one score is more relevant than another. Here’s what you need to know.”
Cut Back – Think about ways you can cut back. Cutting back on various expenses is going to help you save and impact your ability to pay back your debt.
Limit your credit applications prior to applying for a mortgage This will help you with “hard” inquiries. These inquires can pull your score down.
Now’s not the time to buy big -Avoid purchasing cars or a an expensive vacation for now because all of these things impact your credit. Any obvious fiscal changes will be brought up during your credit review. The goal is to lower your debts.
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