Posts Tagged → Tustin Realtors
Buying A Home – Be Realistic About The Time Needed To Fix Your Credit
Before you apply for a home loan, you should order your credit report and review it for any discrepancies and errors. If you discover incorrect information in your credit report, you’ll need to send a letter to dispute the incorrect information. The credit reporting agency will have 30 days to resolve your dispute. If the agency cannot corroborate their version of events, they will need to remove the incorrect item.
Fixing your credit history takes time to accomplish. If you have a poor credit history, Fair Isaac Corporation recommends you begin cleaning up 6 to 12 months before you apply for a loan. If your credit history is really bad, it will take even longer.
But don’t be discouraged. The good news is, even if you have a terrible credit history, your credit score will be based on your most recent financial history. You can improve your credit score by making timely payments on your credit cards and other bills and by paying off the highest interest rate credit cards. You should also maintain a low balance on your revolving lines of credit.
Once your credit history is ready to qualify for a good homes loan, contact experienced Tustin Realtors to help you locate the perfect home.
