Your credit is one of the most important factors in qualifying for a home loan, and it will determine what sort of interest rate you are able to get. That interest rate can make all the difference when it comes to how much home you can afford and keeping your payments within your budget. If you have some credit problems, it’s a good idea to try to improve your score before you buy a home. Here are some simple ways to do that. Careful Use Of Credit Credit cards are unsecured debt, and a lot of that type of debt can make lenders nervous. If you are carrying high balances on your credit cards, paying them down can make a big difference in your score. It will give you a better free credit to debt ratio and show that you handle credit responsibly. When you are looking to buy a home, it’s a good idea to avoid taking on any new debt. Don’t apply for any more credit cards or increase the limits even if they are offered to you. Keep your credit stable and focus on paying off the debt you currently have. Be sure to make all of […]
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