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Getting Ready to Buy a Home? Use These Tips to Boost Your Credit Score

Saturday, August 6, 2022   /   by Teresa DiPeso

Getting Ready to Buy a Home? Use These Tips to Boost Your Credit Score

Your credit score plays a major part in your ability to secure a mortgage—and to secure a competitive interest rate on your loan. So, before you buy a house, you’ll want to do everything you can to get your credit score as high as possible.

So how, exactly, do you do that?

A recent article from realtor.com outlined strategies potential buyers can use to boost their credit score before they purchase a home, including:

  • Increase your credit limits. If you can’t pay off your credit card debt, one trick to boost your score is to ask your credit card company to increase your credit limit. Increasing your credit limit will improve your debt-to-credit ratio (how much you owe relative to how much credit you have available)—which plays a huge role in how lenders evaluate your creditworthiness for a mortgage.
  • Try to erase one-time mistakes. If you have a history of paying your bills on time, but have one or two late payments on your credit report, try reaching out to your credit card company and asking them to remove the late payment from your credit report. While this won’t work for people with a history of late payments, if you have a mostly positive track record, they may be willing to work with you.
  • Pay on time. If your credit score is less-than-perfect because you have a history of late payments, it’s time to start paying your bills on time. The more consistently you pay on time, the more your credit score will improve—and the easier it will be to get a loan.

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Teresa M DiPeso & The DiPeso Group Jersey Shore Real Estate Experts
Teresa M. DiPeso
5901 New Jersey Ave
Wildwood Crest, NJ 08260
609-780-1434

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the Cape May County Multiple Listing Service. Real estate listings held by brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the South Jersey Shore Regional MLS. Real estate listings held by brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
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