Pump Up Your Credit Score

Though of what what rate varies from lender to lender, all will tell you that does indeed play a role in kind of financing you can receive. If you in buying a and taking out a mortgage to do so, your must be something you spend time thinking about and possibly investigating in to it . can mean of of , so just how do you go about raising that score?

Know Your Credit History
Federal law has allowed every consumer ability to pull their own credit each year from all of accredited companies in United States that offer credit history services. In doing so, you can look over your own credit history to possibly find , obstructions or other sticking points that a lending agency would see when pull your file to investigate your viability for a real estate loan.

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All of the , credit inquiries, credit cards and other outstanding debts you’ve accrued will show up on the credit history and anything that you see is something the lender may take into account when creating your rate. You do not harm your own credit by pulling your credit each year, so don’t be afraid of harming yourself by doing homework on your own creditworthiness. 

Use Common Sense on Payments
There is no advice for raising a than paying your bills on time, in full, every month. That means paying your utility bills, credit card bills and loan payments every month, in full. It goes saying that a history of missed payments will harm your credit, so don’t the temptation to hold off on paying that $300 credit card bill for one more month keeps you between raising your credit score by a few points. 


If you do carry a balance, and do, try to keep it out of the of the limit for that particular card. By maxing out your cards, you telling a lender that you have actively lived beyond your means and could be doing so again in applying for a loan. Keeping your balances under of the maximum allowed by your card is generally advisable to show an ability to pay off your debts.

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Don’t Over-Extend
If you go in and pull your credit history each year, that will not harm your credit and is called a “soft pull” because it has no bearing on your credit score. If lenders pulling your credit history, those are “hard pulls” that does, in , affect your credit


A large number of inquiries into your credit history can indicate that you have tried to open a lot of credit in a period of time, something that can lenders squeamish about lending you money. These credit inquiries are done you apply for a credit card, so try and keep your credit card applications to a minimum each year. These include the that so are offering these days. The of having an - should not outweigh your desire to get the best real estate loan rate possible when the time comes for a .

Personal credit is an important component of your ability to anything with a high price tag, especially as it relates to a real estate . Maintaining the goes a improving your credit score that any lender will see when pulling your file. When the time comes for you to embark upon the exciting of buying a , don’t your personal credit be an obstacle. Maintain your and you will set yourself up for the best rates for any you pursue.  

This is another original article by Ernst Georges, co-owner of Yanex Real Estate Investing, LLC at http://www.yanexhome.com/. Are you looking for an experienced Brooklyn, Queens, Long Island New York Investors? With a based, business experience, Ernst Georges and Partners work hard to serve home buyers and sellers for the Kings, Queens, Nassau and Suffolk Counties and surrounding areas. 

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