Give Yourself Some
Credit
The way you handle credit obligations can greatly affect
your loan choices and the interest rates you can get.
In short, the better credit you have, the more loan
options you will have to choose what is best for you
and your financial goals.
If you're in the market to buy a home, and you want
to make sure you're doing everything you can to maintain
good credit, here are a few tips...
DO's
- pay what you owe regularly and on time;
- have a checking and a savings account
- keep your total debt-to-income ratio under 36 percent
- keep track of your spending
- stay within your budget
DON'Ts
- skip payments
- hold more than four credit cards
- exceed or continually increase your line of credit
As for less-than-perfect credit, you should know that
lenders typically are more concerned with how you've
handled your recent credit than with what happened years
ago. But even if you have a
blemish on your credit history, don¹t let that
stop you from buying a home.
Buying a home and paying your mortgage on time
each month is a great way to build your
credit. If you've got credit questions, your first
step should be to contact a trusted home mortgage
consultant
who can help you find the right loan product to help
you attain the home of your dreams through the services
of Barbara Wilson, Medina County's #1 Real
Estate Agent.
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