I’m asked a lot about credit scores and how people can help them go up. We know that the top possible score is around 850. Only one person out of 200 is going to have that perfect score, with most people’s scores running in the 750 range. Once you start getting into the 600 range, financing gets a bit tougher. If you’re in the 500 range, it’s going to be even harder.

If your score isn’t where you’d like it to be, here are a few things that you can do to help it go up:

1. Make sure you’re not overextended. Your credit balance should never be over 30% of your limit. If you have a lot of different cards, you might want to cancel some of them so that you only have a few. 

“Once your score goes up, your interest rate will go down.”

2. Don’t be afraid to refinance. If you can refinance your home and get a lower interest rate, it will show that you have paid off one mortgage and now have a new one, which will help your credit score go down.

3. Make sure all your revolving credit is paid regularly. This includes car payments, housing payments, and credit cards. Don’t wait until the day before the late fee is due because even that will hurt your score. You have to pay everything on time.

Once your credit score goes up, your interest rate will improve and it will be much easier for you to buy a home. 

If you have any questions for me about your situation or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you.