Home Buyer 101Elk Grove renters who are considering purchasing their first home in 2019 will be on a steep learning curve. Shopping for a home is exciting, as you search home shopping
In this day and age, maintaining good credit is the key to obtaining any kind of meaningful assets. You could have a million dollars in the bank but, if your credit is bad, this may not mean anything to lenders. Below are some tips on building and maintaining good credit.
Always pay your bills on time. Unless something catastrophic happens to your credit, such as a lien or a bankruptcy, nothing else will affect your credit quite as dramatically as a history of late payments. Do not max out all of your credit cards at once. This gives the impression that you are not good at handling your finances, which can affect your credit score.
Space out applications for credit, even if they’re from different sources. Multiple credit inquiries in a short amount of time can drop your credit score. Make sure that every time you fill out an application for credit it is legible and the information is consistent with other information you’ve given in the past. If it isn’t your credit information it could end up in multiple files,or filed under another person’s name (and credit.)
Every consumer is entitled to a free credit report from one of the three major credit bureaus every year. Make sure you obtain one so that you know what is on your credit report. This way, if you see errors you can work to correct them before you attempt to apply for credit.
I hope you found these tips helpful. If you or any of your friends, family, or acquaintances have questions orconcerns about financing the purchase of a home, or refinancing their current home loan, please contact me. I’m more than happy to help!
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