Broomfield Home Buyers ~ Increase your credit score!

1. Get a copy of your credit report.

FREE at http://www.annualcreditreport.com/ or call 1.877.322.8228

OR

$19.95 for all 3 credit bureau reports (immediately) at Equifax

$34.95 for all 3 credit bureau reports AND analysis on how to change your credit score at Experian

$29.95 for all 3 credit bureau reports AND analysis on why your credit score is what it is and how lenders view you as a potential buyer

The reason you need a credit report is to determine where you stand and what can be done about it. A very high percentage of credit reports contain mistakes. You can often increase your credit score simply by correcting these mistakes.

2. You'll increase your credit score faster by paying down high interest credit card debt than you will by paying down your mortgage, car or student loans. Try to get the debt down on each card by at least 50% below what your credit limit is on that card. The bigger the gap between your allowable credit limit and your actual debt, the higher your credit score will be.

3. Don't close out your old accounts. In the past it was commonly believed that you should close unused or unwanted accounts but now experts believe that the more credit allowance you have, the higher your credit score. Again, the important part here is that your actual debt is low and your credit limits high. If you know you won't abuse a higher credit limit by spending more, ask your credit card issuer to raise your credit limit.

4. If you're close to the limit on your card call the company and ask them to increase your credit limit. Obviously the idea here is NOT to use that increase but to increase the distance between your allowable credit and your actual debt. This is NOT to be used for charging purposes, but to increase your credit score!

5. For additional advice go to myfico.com  to download these very cool ebooks on understanding and increasing your credit score and how to avoid identity theft.

Are you a first time home-buyer and unsure as to what you need to do to actually buy a home? You're not alone! The home buying process can be a difficult and crazy process but that's what I am here for! Call me and we can get to work on putting you in your first dream home this year!

I can help you make your dreams come true this year by buying your very first home!