If you’re looking to buy one of the new homes in North Port, FL, the higher your FICO score, the better your mortgage rate will be. If you are concerned about your credit score not being high enough to qualify you for a decent interest rate, rest assured that you are not alone.
While some credit score issues can take months or even years to fix, especially when a dispute is required, there are a few things that you can start doing today.
Check Your Report for Accuracy
The most important thing that you can do when trying to fix or improve your credit score is to obtain a free copy of it through the Annual Credit Report website. Once you have a copy, look it over carefully for any errors, such as late payments that were made on time, accounts that don’t belong to you, and more.
If you notice anything amiss with your report, contact the three bureaus immediately to start a dispute process. In some cases, the negative items can be removed immediately and your lender can ask for a rapid rescore.
Build Your Credit
One thing that lenders working with Reese Homes will tell you is to be careful with this one. You don’t want to go out and open a bunch of new accounts because that does more harm than good. Opening new accounts or having too many inquiries on your report negatively affects your score for several months.
Instead, work on building your credit several months before buying one of the new homes in North Port, FL by asking family to put you as an authorized user on one of their accounts. This gives your credit a boost without hurting your score.