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"I am in the process of trying to purchase my first home. The representatives at 800775LOAN.com have been so helpful in all aspects this venture and are doing everything in their power to get me approved for my loan. I will definitely recommend your company to all my friends, thanks 800775LOAN.com."

- Durinda F
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Mortgage Info Center

Dealing with Credit Issues

Dealing with Credit Issues

Improving an individual's credit score is not rocket science. It involves following a few simple rules and being patient. A credit score will not improve over night - it improves over time as the individual demonstrates their credit worthiness by reducing their debt, paying their bills on time, and demonstrating good borrowing habits. To improve a credit score an individual should:

  • Pay all of their bills on time.
  • Keep the balances on their credit cards low. A "maxed out" credit card hurts an individual's credit score.
  • Pay off debt rather than simply moving the debt between credit cards. Moving debt around does not reduce an individual's debt load.
  • Only apply for new credit cards and loans when they are needed. This means passing up all of the "great offers" received in the mail.
  • Check their credit report annually for accuracy and contact the creditors and credit reporting agencies to correct any errors that they find.

Related Content

Understanding Credit
Understanding Credit
One of the leading things that a lender considers when reviewing an application for a mortgage loan is the potential borrower's credit history.
How Much House You Can Afford
How Much House You Can Afford
Four things a prospective buyer will have to consider when determining how much he or she can afford.
Common Mistakes When Refinancing Your Mortgage
Common Refinancing Mistakes

Be aware of the pros and cons of the refinancing process and its various aspects to help avoid problems.

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