How to Improve Credit Score When Buying Grasslands Lakeland FL Homes

How to Improve Credit Score When Buying Grasslands Lakeland FL Homes

 

Buying a home in Grasslands Lakeland Florida is a major investment so careful financial preparation is required. 

If you are planning to obtain a home loan to buy your dream home, you will need a good credit score. A credit score is a three digit number calculated from your data-rich credit report and is one factor used by lenders to determine your whether you are qualified for a mortgage or loan. Here are some tips to increase your credit score.

1. Regularly use your credit card

Using your credit card can help boost your credit score and eventually qualify you for a loan for a home in Grasslands Golf & Country Club. Using your credit card is a powerful tool in building credit. Just make sure to never spend more than what you have and settle your bills in full every month. Maxing out your credit card can hurt your credit score, but regular and responsible use can actually help it.

2. Sign up for a new credit card

Getting another credit card may not be the wisest thing to do if you still have unsettled credit card debts. However, if you need to boost your credit score quickly, this may be your only choice. If possible, try to get a credit card with a 0% intro balance transfer option. This will allow you to transfer your existing debt over and get a break from paying interest each month.

3. Avoid risks

Avoid doing things that could negatively impact your credit score. Two of the biggest mistakes that you should steer clear of are missing payments and suddenly paying less than you normally do. As much as possible, avoid taking out cash advances. Think carefully before using your cards at business that could indicate current or future money problems such as a divorce attorney or a pawnshop.

4. Make it automatic

To avoid late payments, set up automatic payments on installment loans that charge the same amount each time. Keep in mind that just one delinquent payment can damage your credit score. Take preemptive measures by creating a calendar that reminds you for your credit card bills.

5. Keep your credit cards open

If you are set on buying a home in Grasslands communities in Lakeland FL, it will help if you keep your credit cards open. Each card contributes to your credit history so do not close any existing accounts. Closing your credit card will not improve your credit score. In fact it might do just the opposite. Remember that the longer you have had your accounts, the more it adds to your score. Do not cancel your cards even if you are not using them.

Consider these strategies to improve your credit score the soonest time possible. Visit http://www.LakelandFloridaLiving.com today for more helpful suggestions on home selling and home buying.

Call me, Petra Norris, at (863) 619-6918 or send me an email at petra@petranorris.com if you’re looking for a Lakeland Florida real estate agent with unquestionable expertise and professionalism in providing only quality service that you need in selling or buying Sandpiper Golf homes for sale or Lakeland 55+ Communities real estate.

Petra Norris, REALTOR®…

Going The Extra Mile For You!