Thinking about or in the process of purchasing a home? Remember credit score is critical! Watch what you purchase! Anything that changes your debt/income ratio or any type of credit you take on while trying to get a home loan: car, boat, furniture, ect...that you finance will affect your credit score. Do not make any big purchases before or during the process!
Find out what your credit score is. The higher your score,the better. Low scores unfortunately will hurt your buying power and affect your the interest rate.
You can get copies of your credit report free from all three credit bureaus once a year. Check them make sure they are correct and that you have not been a victim of identity theft. You can dispute discrepancies in these reports. Do whatever it takes to improve those credit scores to get the best possible interest rates, ultimately saving thousands of dollars throughout the loan.
For more information on home loans and improving your credit score contact us or our partner at National City Mortgage, Reid Mitchell. http://kerririchproperties.net/
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