N10 by creditrestoreusa


									Tricks To Improve Credit Score Before Applying For A Mortgage

There are a couple of things that you can do prior to applying for a mortgage that
will help raise your credit scores in the event that you feel you may be right on the
line of a qualifying score. Current FHA mortgage guidelines require a minimum of a
620 middle score and some situations bump that minimum score requirement up to
a 640.

The easiest thing to do is to pay down all of your revolving accounts such as credit
cards and department store cards. If you can afford it pay them all off, leaving a few
dollars on each account as a balance. Recent studies have showed that to achieve the
highest possible open balances should be between two and three percent. There
isn’t any public information available in regards to the FICO scoring model and the
algorithm used to calculate the score so trial and error is tested to try and notice
indicators. Paying off these accounts will lower your utilization and in turn raise
your credit scores.

It is also suggested that you obtain copies of your credit reports on your own before
you meet with a mortgage professional. When you check your own credit it does not
harm your score in any way. This will allow you to get a good idea of where your
scores stand and also see if there are any accounts that are severely harming your
credit scores. If this is the case then you should retain professional help to improve
credit score before you apply for a mortgage. There are several things that a credit
repair company can do to help you improve the credit score and get you in a position
to buy a house.

If you are thinking of purchasing a home then it is likely that your finances are in
order and you have a steady documented income that can support the payment. It
would be a shame to de denied the mortgage because of some little credit bumps
that could be cleared up by a professional. To get full information on our credit
repair services click HERE and review all of the information.

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