5 Steps To Improving Your Credit

5 Steps To Improving Your Credit

Improving you credit takes time, effort, and patients. Without taking the first step, your FICO score will never improve. Here's a look at 5 steps yo cam take right now to bump that score up. 


Get Your Credit Report: The first step in improving your credit score is understanding it. You have the right to get your credit report from the 3 credit bureaus once a year. Experian; www.experian.com, Transunion: www.transunion.com, and Equifax: www.equifax.com. You can go to the website www.annualcreditreport.com or call the company at 1-877-322-8228 to get a copy from each credit agency. Understand, this will not include your score, just your history. To get your score, you will need to pay a fee or talk to a mortgage consultant. 

Side Note: When pulling your credit, it is a good idea to "opt out" of trigger leads. A company can find out who is in the market for new financing by contacting the major credit agencies. You could be flagged when applying for a mortgage or inquiring about your credit report. The website that allows you to opt out is www.optoutprescreen.com.


Dispute Inaccuracies: Look over your credit report and make sure that all the information is accurate. You can dispute anything that you find that is untrue. Once you notify the credit bureau of any inaccuracies, they have 30 days to respond. If the information can not be confirmed, it should be taken off of your report. 


Pay You Bills On Time: Even a day late on a payment can cause a major hit on your credit score. Paying on time accounts for 35% of your FICO score. It's the highest rated factor.


Reduce Debt You Have: Bring down the amounts you owe on credit cards and other accounts will have a Huge impact. Take a look at your accounts, figure out how much you owe, and begin paying them down. Sometimes easier said than done. Also, put the credit cards away and tighten the budget. Pay off what you can, while paying at least the minimum payments on the rest of your accounts. 


Meet With Your Mortgage Lender: Knowing your credit history is the first step in improving your score. Knowing the FICO score is the next step. Talk to your mortgage lender about your credit history and the score. Your lender can help you get on the right track for your first mortgage, upgrade, or refinancing. 


The more you know., the smoother your home buying process will be. Reach out to a real estate agent if you do not have a lender you are working with. Most agents have a handful of lender's they prefer. Keep in mind, just because an agent refers you to a specific lender, it does not mean that you have to stick with that lender, feel free to shop around and find the lender that works best for you. 


Now go out and start looking for your next dream home. There are so many people working to help you find what it perfect for you. It all starts with you! Let the process begin! 


Happy Hunting! 




Cory Pangburn Headshot
Author:
Phone: 616-482-9332
Dated: May 2nd 2016
Views: 214
About Cory: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Moving Its Not Just About Packing - Moving? It’s Not Just About
Ten Tips For Sprucing Up Your Porch Or Patio - Ten Tips for Sprucing Up Your
13 Terms To Know For First Time Home Buyers - PREQUALIFIED – the first step
Ten Tips For Getting Your House Buyer Ready - Thinking of selling your home?

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Pangburn Properties, Inc.
28 South Maple Street, P.O. Box 8
Grant, MI
231-674-5462
231-834-9199