Get Mortgage Ready: Boost Your Credit Score

Your credit score is a big part of the home buying process. A higher score means better loan terms, lower interest rates and more options. If your score isn’t where it needs to be don’t worry—there are steps you can take to improve it. Here are some practical tips to get your score moving in the right direction.

1. Pay Your Bills on Time

Payment history is 35% of your credit score. One late payment can hurt so make paying all bills—credit cards, loans and utilities—on time a priority. Set up automatic payments or calendar reminders to help you stay on track.



2. Lower Credit Card Balances

Your credit utilization ratio (how much of your available credit you’re using) is another big factor. Aim to keep your balances below 30% of your credit limit—and lower if possible. Paying down high balances will help your score quickly.

3. Don’t Open New Accounts

Each time you apply for credit a hard inquiry is added to your credit report which can lower your score temporarily. Don’t open new accounts unless absolutely necessary especially when you’re about to apply for a mortgage.

4. Check Your Credit Report for Errors

Errors on your credit report will lower your score. Request a free copy of your report from annualcreditreport.com and review it carefully for errors. If you find any dispute them with the credit bureau to have them corrected.

5. Don’t Close Old Accounts

The length of your credit history is part of your score so keeping old accounts open—even if you don’t use them—can help. Closing an account shortens your credit history and may increase your credit utilization ratio.

6. Get Professional Help

If your credit challenges are too much to handle on your own, consider working with a trusted mortgage professional or credit counselor. They can help you with personalized strategies to boost your score and get mortgage ready.

Get Started Today for a Better Tomorrow

Improving your credit score takes time but it’s worth it when you’re ready to buy your dream home. Whether you’re buying in Milwaukee, Arizona or Florida, I can help you through the mortgage process with ease. Let’s get a plan in place for you—contact me today!