Pump Up Your Credit Score

Though the exact breakdowns of what score garners what interest rate varies from lender to lender, all will tell you that score does indeed play a role in the of financing you can receive. If you are in buying a home and taking out a to do so, score must be you spend some time thinking about and possibly investigating in to it better. The difference between two interest rate brackets can mean thousands of of , so just how do you go about raising that score?

Know Your Credit History
Federal law has allowed every consumer the ability to pull report from all of the accredited companies in the United States that offer history services. In doing so, you can over history to possibly find errors, obstructions or other sticking that a lending agency would see they pull file to investigate 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 the lender may take into account your rate. You do not harm your credit by pulling report , so don’t be of harming yourself by doing homework on your own creditworthiness. 

Use Common Sense on Payments
is no better advice for raising a credit score 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 without saying that a history of missed payments will harm , so don’t let the to hold off on paying that $300 credit card bill for one more month keeps you between raising score by a few


If you do carry a balance, and many people do, try to keep it out of the neighborhood of the limit for that particular card. By maxing out your cards, you are telling a lender that you actively lived beyond your means and could be doing so again in . 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 , that will not harm your credit and is called a “soft pull” because it has no bearing on your credit score. If lenders are continually pulling your credit history, those are “hard pulls” that does, in , affect your


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

Personal credit is an extremely important component of your ability to anything a price tag, especially as it relates to a real estate . Maintaining the goes a long way towards 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 home, don’t let your personal credit be an obstacle. Maintain your and you will set yourself up for the best interest 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 York Investors? a service based, business experience, Ernst Georges and Partners work hard to serve home and sellers for the Kings, Queens, Nassau and Suffolk Counties and surrounding areas. 

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