When buying a home in Virginia Beach VA, it’s important to take the necessary steps to increase your credit score. You want to ensure you have the highest credit score possible, so you will be better positioned to qualify for the best possible mortgage rate and products.
Here are the top 5 ways to increase your credit score:
Pay-off Credit Cards – Credit cards and other revolving credit is helpful to establish credit, but before you begin looking into a mortgage, pay-off all balances.
Clear-Up Collections – If you’ve had a debt go to collection, pay the amount owed. The collection will remain on your credit for seven years, but paying it will help your credit score.
Keep Accounts Open – Once, you’ve paid off your balances, don’t close the accounts. Keeping them open with a zero balance illustrates a strong credit history.
Get Your Credit Report – Contact the three major credit reporting agencies Equifax, TransUnion, and Experian, to ensure accuracy.
Dispute Any Mistakes – If you find an error, dispute and have it removed from your credit report.
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