3 Credit Tips for Buying a Home in Rochester MN

3 Credit Tips Rochester Minnesota

If you’re looking to finance in the next year, you need to hear this.

When buying home try to keep your credit cards below 50% of their limits.
When buying a home try to keep your credit cards below 50% of their limits.

This is Alex Mayer with Counselor Realty, and following these three tips will pay huge dividends to positioning yourself financially.

First, keep all of your credit cards below 50% of the credit limit, as credit reporting agencies will consider this to be a maxed-out card. Try to keep them below 30% if you can.

Second, pay your bills on time. A 30-day late payment can negatively affect your credit score between 60 and 110 points. So, pay your bills on time. Third, order a free online credit report.

Third-party credit reporting agencies and credit card companies often give misguided information as to what your score truly is. Make sure that you check your credit report for any discrepancies.

It's a good idea to know where your credit is that months before buying a home.
It’s a good idea to know where your credit is that months before buying a home.

If you are looking to finance a home in the next year, find your local lender to go over your options.

This is Alex Mayer with Counselor Realty, Buying a Home and Sell Strategically.

 

 

 

 

 

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