Inproving your credit to get a mortgage??? Advice appreciated!!?

I am in the process of trying to buy my first house. I spoke to a lender about getting pre-approved yesterday and he told me the only thing holding me back was my middle credit score was 20 points too low. He gave me the phone number to one of those companies that say they will clean up your credit but I don’t want to spend my savings on something like that.
I have been told that 20 points would be easy to gain in a short amount of time but I would like to do it on my own and not go through an agency that might not work.
The only things really on my credit report is a car payment that has never been late, a few student loans that have never been late, and a few credit cards that have balances close to the limits. Would paying off those credit cards raise my score 20 points?
Does anyone have any other advice that might help raise my credit score? I want to complete this by April in order to get the homebuyers tax credit.

Thank you for your help!

2 thoughts on “Inproving your credit to get a mortgage??? Advice appreciated!!?

  1. If you can bring your credit card balances to below 30% of the credit line that will improve your score tremendously. The ways you can do that are:

    1. Pay the balances down (always a good thing!)

    2. If you bought stuff recently you don’t really need, return it and get refunds applied to your account.

    3. Ask your cc companies to increase your credit line (not the greatest idea if it will get you in more debt, but an ok short term strategy to increase your score).

  2. Mortgage loan is a term used for the loans secured by a property. Mortgage loans refer to a loan secured by residential property, often for the purpose of securing real estate. Mortgage loans are priced lower than other loan structures because the value of the property risk for the lender.

    A fixed rate mortgage loan has its own benefit. If the borrower is budget conscious, he will remain at peace because the monthly mortgage amount will not change.Fixed rate mortgage loan is a loan where the interest rate remains the same through the term of the loan. Fixed rate mortgage loans are the most traditional form of loan.

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