How to Improve Your Credit Score Before Applying for a Mortgage
How to Improve Your Credit Score Before Applying for a Mortgage
This week we’re talking about something really important if you’re thinking about buying a home: how to improve your credit score before applying for a mortgage.
Buying a home is exciting, but it’s also a major financial commitment. One of the first things lenders look at when approving a mortgage is your credit score. A higher score can help you qualify for a better interest rate, which can save you thousands of dollars over the life of your loan. The good news? Even if your credit isn’t perfect right now, there are practical steps you can take to improve it.
1. Check Your Credit Report for Errors
Start by pulling your credit reports from Equifax, Experian, and TransUnion. Review them carefully and dispute any errors right away. Incorrect late payments or balances can drag your score down, and fixing them can sometimes give you a quick boost.
2. Pay Down Your Debt
High balances can negatively impact your credit score. A good rule of thumb is to keep your credit utilization below 30% of your total available credit. Paying down credit cards—even a little—can make a noticeable difference.
3. Make All Payments on Time
Payment history is one of the biggest factors in your credit score. Late payments can hurt you more than you realize. Set up automatic payments or reminders to make sure every bill is paid on time, every time.
4. Avoid Opening New Credit Accounts
Once you’re preparing to apply for a mortgage, it’s best to avoid opening new credit cards or loans. New accounts can lower your average credit age and temporarily ding your score. Wait until after you’ve closed on your home.
5. Keep Old Accounts Open
The length of your credit history matters. Even if you don’t use certain credit cards anymore, keeping those older accounts open can actually help your score.
The Bottom Line
Small changes—like paying down debt, staying on top of bills, and avoiding new credit—can make a big difference when it comes time to apply for a mortgage. Start early, stay consistent, and you’ll put yourself in a much stronger position to secure the best possible rate.
If you’re thinking about buying a home, reach out to me today. I’d be happy to connect you with one of my preferred lenders so we can get you on the path to homeownership and start shopping with confidence.
Raegan Thorp
Raegan Thorp Real Estate Group
📧 raegan@rtrg.homes
📧 info@rtrg.homes
🌐 www.RaeganThorp.com
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