December 1, 2017 | Tracie Ohlsen
Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home process.

Make sure all the information listed on your report is accurate and work to correct any mistakes. The higher your credit score, the more likely you will be to receive a better interest rate for your mortgage, which will translate into more "Home for your money"

Many potential buyers believe that they need a 750% FICO Score or higher to be able to purchase a home. The truth is, over 53% of loans were approved with a FICO score under 750 last month.


* Make payments, including rent, credit cards, and cal loans on time.
* Keep your spending to no more than 30% of your limit on credit cards.
* Pay down high-balance credit cards to lower balances, and consider balance transfers to free up credit.
* Check for errors on your credit report and work towards fixing them.
* Shop for mortgage rates within a 30-day period -- Too many spread-out inquiries can lower your score.
* Work with a credit counselor or a lender to improve your score.

Once you know your score, your next step will be finding a lender and getting pre-approved for a mortgage. Doing this will ensure that you know your budget before you start looking for your dream home.



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