How Can You Improve Your Credit Score?

Mortgage and Lending with HomeLoans Inc

Improving Your Credit Score
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How can you improve your credit score?

It's virtually impossible to change your score in the time between when most people decide to buy a home or refinance their mortgage and when they apply. So the short answer is, you really can't "on the spot." But there are strategies you can live with to make sure when you apply for a loan your score is as high as possible.

Make sure that the information each of the three credit reporting bureaus has on you is consistent and up to date. Order a copy of your credit report about once a year, and dispute any inaccuracies.

Note: Theoretically, if a series of credit reports is requested on your behalf during a limited amount of time, your score goes down until time passes without any inquiries. Changes in the law though have made "consumer-originating" credit report requests not count so much. Also, a series of requests in relation to getting a mortgage or car loan is not treated the same as a number of credit card requests in a limited time. This is because the credit bureaus, and lenders, realize that people request their own credit reports to keep up with what's on them, and smart consumers shop around for the best mortgage and car loans.

Unsolicited credit card solicitations in the mail don't count against your credit report, so don't worry.

The two main components of your credit score are your payment history and the amounts you owe. Bankruptcy filings and foreclosures, which can stay on your credit report for as many as 10 years, can significantly lower your score. It's never a good idea to take on more credit than you can handle.

Late payments work against you. It's extremely important to pay bills on time, even if it's only the monthly payment.

Dont "max out" your credit lines. Since the size of the balance on your open accounts is a factor, lower balances are better.

It's said that by carefully managing your credit, it's possible to add as much as 50 points per year to your score.


HomeLoans Inc. and HLI Mortgage are  family owned businesses headquartered in Canyon Lake California. We also have offices in Rancho Bernardo, Perris California and Northern Michigan. While we offer a vast number of mortgage products to meet the unique needs of our clients, we take pride in giving each client personal service. We recognize the fact that many of our clients are new to the mortgage process and may need additional help getting from start to finish. That is why everyone on the HLI team is committed to being available to our clients.  For more information of our the various products we have and services we offer simply click on the "Products & Services" tab.  If you would like to speak directly to the President of HLI simply call him at: 1 951 712 5070.

Hal Ballew, Broker
HomeLoans Inc. is proud to recommend HomePros Real Estate and Southern California Escrow Inc.  For more information on these fine companies contact me.

HomeLoans Inc 31534 Railroad Canyon Rd CA Dept of Real Estate Broker 01250414 Canyon Lake, CA 92587
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Comments (1)

Angie Vandenbergh
Crye-Leike, Realtors - Memphis, TN
A Crye-Leike Blogger

Hi! Welcome to the site.

I recommend that you read, read, read and then comment, comment, comment. There are so many different blogs to read. There are tons of topics out there from real estate, marketing, technology, seo, staging, mortgage, etc. It goes on and on. Find topics you like (in the groups) follow those for a little while, start to find certain writers you like. Comment on their posts. You'll start to get to know people and before you know it... you'll have figured out the benefits of the site. Also reciprocate your comments. Consider posting blogs with content for consumers. Those are included on So you could write about your area or about things you know in real estate or related etc.

Also check out Resources for the Active Rain Newbie.

Good luck!

Dec 09, 2007 04:40 AM