Are you in need of tips for good credit to help you buy a house? Here are the top 5 Tips to help you get one step closer to a good credit score to get the best interest rate.
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A common mistake is that you do not talk to a lender until you are ready to make an offer on your dream home. This is definitely not the case, talking to a preferred lender before you start shopping will actually set you up for financial success. You want to heed their advice in regards to credit and debt to income ratios. After all they are the experts on the loan program and on the interest rate that you’re trying to achieve. Let’s talk about some tips on how to prepare for a home mortgage.
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You want to have at least a 580 credit score in order to be able to qualify for a loan.
We need to be able to show proof of at least 12 months of you making on-time payments and not having any late payments in the last 12 months.
Of course we don’t want to see any liens or judgments. We just don’t
want to see something we can’t overcome.
These are all things that do have a time period in which we have to wait to be able to overcome them.
We don’t want to have any collection accounts and the total of collection accounts cannot exceed two thousand dollars. This is not take into consideration medical collection accounts. Every loan program does have a different threshold.
So if you know of any inaccuracies or discrepancies that you’re aware of, make sure to get your copy of the FREE CREDIT CLEAN UP GUIDE just for you.
CreditKarma.com – First and foremost make sure that you are monitoring your credit. There are many websites that are available for you to be able to monitor it. Credit Karma is probably the most popular but any of your bank credit cards they’re going to offer you free FICO credit scores that will be able to monitor it and at least alert you if you have a late payment or somebody’s trying to obtain credit on your behalf.
Annualcreditreport.com – Additionally you will want to make sure that you’re going on annualcreditreport.com to obtain a copy of your actual credit report that details and outlines all of the credit that you have.
You can also click here your free credit cleanup guide.
In Conclusion, there are so many ways that can help you clean up credit to maximize the potential for the best possible interest rate. That is the point here isnt it? To save you money! Speaking with a lender upfront and honestly about your financial situation will save you lots of money in the end!
In conclusion, whether you are buying a home, selling a home, thinking of moving to the Orlando Area or just browsing, make sure you get the latest market updates, tips on selling, moving hacks and so much more by following Krish on YouTube, Pinterest, Facebook, and Instagram.