How To Raise Your Credit Score And Prepare For A Home Loan

Dated: 08/07/2016

Views: 344

Hello All! It's your #MakeItHappenRealtor again, Alexander Parker, here with The Parker Realty Group and RE/MAX Real Pros! And we are starting off the week 

with steps that will help you reach your credit score goal, and get you pre-approved for that home loan

The first thing to remember, is that paying down all of your credit accounts to a zero balance, actually doesn't help your credit score as much as holding a certain 

balance amount on the accounts does. It's been noted, attempted, and recorded, that holding between a 20-30% balance to limit ratio, helps build 

credit points quicker than the zero balance method. 

For Example: 

If you have a credit card with a limit of $10,000, holding a consistent balance of $2,500 - $3,000 monthly (allowing this balance to record to the credit bureau),

you will end up earning more positive credit points, than you would with a zero balance on the account. 

The bureaus want to see that you are able to "manage" your credit account and balances, not hold open accounts with zero balances. 

To better understand your credit situation, and if improvement is needed, how to get there quicker, give us a call at (949) 427-1350 and we will partner you with one of 

Lending Specialists for a FREE Consultation. 

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