New Homebuyer Series: 4 Tips To Quickly Increase Your Credit Score
Heartland Home Mortgage
Heartland Home Mortgage Hanover, NY
Published on June 11, 2021

New Homebuyer Series: 4 Tips To Quickly Increase Your Credit Score

Verify your mortgage eligibility (Oct 21st, 2021)

Are you on the hunt for a house? Concerned about your credit score and want to make sure it is as high as possible while you try to find the perfect home? We admire and applaud your effort at staying on top of things, and trust us, you won’t regret it! Having a higher credit score could drastically affect your loan for the better and we are so excited to give you the best possible deal! Let’s get started! 

 

1~

Pay down your credit cards to below 50% of the limit. The more of your credit limit that you use, the lower your score. Your score could jump up some points, simply by paying down your credit cards to below the 50% mark. 25% is even better, but this will help tremendously! 

Verify your mortgage eligibility (Oct 21st, 2021)

 

2~

Request a family member with good credit to add you as an authorized user on their account. Their good and longlasting credit history will instantly affect yours and you don’t even need to have a card or have access to the account. The ability to piggy-back on this person’s credit will allow their credit to merge with yours, oftentimes creating a higher score. 

 

Verify your mortgage eligibility (Oct 21st, 2021)

3~

Get a credit card and pay a small bill monthly. This tip is great for those who have no credit history. The simplest way to start building that credit is to get a credit card and use it for a small bill monthly, paying it off at the end of every month. It could be a tank of gas or your Netflix bill, but we recommend keeping it small and easy!

 

4~

Don’t close out of existing credit. The amount of credit that is extended to you which is reflected in the limits set on your credit cards etc, is a large factor in your credit score. If you suddenly close out a credit card or several, this could actually lower your score as it is also lowering your available credit. 

Verify your mortgage eligibility (Oct 21st, 2021)

 

We hope you found these tips helpful! If you haven’t been pre-approved yet, make sure you hit the apply button on our website so that we can connect you with one of our loan specialists! We love to connect and make sure you are headed in the right direction when it comes to buying a house! 

 

*disclaimer* These tips are by no means foolproof or a formula, but they are recommendations that have a high chance of working if applied correctly. 

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Heartland Home Mortgage
Heartland Home Mortgage Hanover, NY
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