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

Dated: 08/07/2016

Views: 324

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. 

Image title

To Begin Your Home Search, Click Here

To Schedule a Seller Consultation, Click Here.


Blog author image

Parker Group REMAX

Hello, We are The Parker Group, powered by RE/MAX Real Pros. Our Brokerage Team is #1 ranked in Southern California. We list and help purchase more real estate in Southern California than any other te....

Want to Advertise on this Site?

Latest Blog Posts

5 NEGOTIATING TACTICS THAT KILL SALE

Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a

Read More

The Mythical Value Of Smart Homes

The Mythical Value of Smart Homes Disabuse buyers and sellers of these common misunderstandings about what constitutes a true smart home and what different technology features are actually worth.

Read More

Feb 15 2018 54937 1

Working out doesn't have to be so much work. Ditching the gym membership for a home gym pays off in privacy, freedom, convenience, time efficiency, and cost! Here are 5 simple steps for building the

Read More

Which Comes First

Which Comes First... Marriage or Mortgage? According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married

Read More