If your credit isn’t where it needs to be to qualify for a mortgage loan, what can you do to improve your credit score? Here are a couple tips that can help you.

First, if you don’t have credit, you can be added as an authorized user on someone else’s established account. Make sure you’re added to an account that has a minimum of five years on it, doesn’t have any derogatory items or late payments, and has a low balance and a high limit. This gives you the history that person has generated on their own. Without needing to start over, you have the benefit of utilizing what they’ve already established.

“You don’t need a credit score of 740 to get into a home.”

Second, if your credit cards have higher balances than you want but you don’t have the funds to pay them down yet, call the credit card companies and ask them to increase your limit. Essentially, credit card companies want to increase your limit so you can borrow more. This doesn’t cost you anything, and it will help move your balances and your limit into the correct ratio.

As always, if you have any questions or any real estate needs at all, don’t hesitate to reach out to me or reply to this email. I’d be happy to help you.