5 Ways To Quickly Improve Your Credit Score Before Buying a Home in Phoenix Metro

With the tighter lending rules having a good or very good credit score is even more important.  By having a higher credit score you will have access to more loan programs and these loan programs will cost you less.  Over the term of the loan this can add up to thousands to tens of thousands of dollars. There are some ways to you can quickly raise your score.

1.  Try not to exceed 50% of your credit limit (some say you can have up to 70%) for any given line of credit, like credit cards.  If you call your credit card provider you can usually get them to raise your credit limit thus allowing you to access more money if you need it.  Even, better take your balances to zero, if you can.

2.  Don't buy anything big, if you are planning to buy real estate in Phoenix any time soon.  Even buying furniture on credit can greatly effect your score. 

 
3.  Don't cancel any credit cards.  A closed account can hurt your credit.  Even if you don't use it having high available credit and not maxing it out improves your score.

4.  If you have any collections, get rid of them.  Even small ones like $32.00 hurt your score a lot.  Just pay them off.  It will be worth it.

5.  Pay off any past due accounts.

Any of these actions are not instantaneous.  Start as early as possible to improve your credit.  It can take a month or it can take up to several months to show the results of your actions.  If you would like to discuss more way  of improving your credit or what else you will need to do to improve your financial position before getting a real estate loan, call us, Artur 602.628.4349 or Joanna 602.358.1392 and we'll direct you to a mortgage lender that will help you.