Improving Credit Scores To Buy An Affordable Home

Improving Credit Scores To Purchase An Affordable Home in San Antonio, TX

Anyone wanting to Purchase a Home and has to improve their credit score before they buy in San Antonio, TX may want to read an article about Improving Credit Scores. While anyone associated with home mortgages can run your credit reports and tell you what your credit scores are, few will tell you steps on Improving Credit Scores.


Improving Credit Scores begins with understanding your:

Improving Credit Scores

Payment History since it accounts for 35% of the score. So if you are serious about improving your credit scores the first thing to do is pay your bills on time. The second thing needed is to get current on all your bills and stay current. Easier said than done sometimes, yet there are methods that can assist you on Improving Credit Scores like the reverse snowball. The third issue with payment history you will need to get your arms around are collection accounts. If collectors are harrassing you, then harrass the companies that have reported incorrect information on your credit report.

Amounts owed accounts for 30% of a credit score. Some credit is more important than other credit. A mortgage is the best type of debt to have, yet the worst to be delinquent. A debt with a finance company hurts the credit score most, yet theses late payments appear to have less of an adverse affect upon the score.



Length of Credit History accounts for 15% of a credit score. Some quick suggestions on length of credit history includes not opening several new accounts all at once since new accounts will lower the average age of a person’s accounts and reduce the credit score.

Remember that a credit score is based entirely upon an individual’s credit history so if you are young or relatively new to the “Improving Credit Scores” game, then getting a quick grip on the top 65% above is crucial to winning the game.


hour glassNew Credit accounts for 10% of a credit score yet there are some guidelines that need to be followed: 1. If shopping for financing, do it all in a short period; 2. Requesting your own credit report will not affect the score if you obtained it directly from the reporting agencies; and 3. Consult a professional about opening a few new accounts, but re-read Length of Credit History.



Types of Credit Accounts for the last 10% of a credit score and this can be the part that makes or breaks your efforts so real quick: 1. Do not open accounts just to have more available credit; 2. Have no more than five open revolving accounts; 3. Closing accounts will not make them go away; and 4. Closing unused revolving accounts can be beneficial only to get down to the optimal five open lines to revolving credit.


If you or someone you know is interested in Improving Credit Scores and want to know more about how to improve them, please say and select “I Have Questions about How To Improve My Credit Scores” and I will make time to discuss your unique situation.


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