Before you buy a home, you need to reign in your credit. Here’s how.

Did you know that there are simple ways you can boost your credit score? We asked local lender Scott Miller from Bank of England Mortgage for his top three tips for easily improving your credit:

1. Review your credit report. There are three main credit bureaus to consult for your credit report: TransUnion, Equifax, and Experian. You’re allowed one free copy of your full credit report from these companies annually, or you can download a credit app to review your entire history and track the steps you’re taking to increase your score. Dispute anything inaccurate or past the allotted time to be on your reports such as a bankruptcy or foreclosure.

“When you make payments to lower your balance, try to pay at least one dollar more than the minimum balance each time.”

2. Reduce the balance of your credit card debt. Anytime your balance is more than 30% of your limit, your credit score will be reduced. If you have any credit card history, several secure cards can help you build a solid credit history if used responsibly. Additionally, when you make payments to lower your balance, try to pay at least one dollar over the minimum payment each time to boost your score.

3. Settle any collections or judgments as soon as possible. Don’t wait until you talk to a lender because waiting can reduce your credit score. 

We hope these tips will help you improve your credit score so you can do the things you want, like buy a home. If you have any questions or need assistance, don’t hesitate to give us a call. We’d love to hear from you.