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Ways to Fix Your Credit In 2018

With 2017 coming to an end, people are looking forward to next year and trying to decide what they want to do next year.  For people renting a home, it should be trying to buy a home!  Owning a home is a significant financial achievement.  It’s the biggest purchase of your life, and you want to be ready for it.  Why wouldn’t you want to get the best rate you can get?  There are ways to fix your credit in 2018 and save on your mortgage!

1. Get Your Credit Cards Under Control
IStop paying the minimums.  You need to get those credit cards under control if you want to fix your credit.  Not paying those insanely high interest rates is a great start.  You just have to bite the bullet and make those payments every month.  This will raise your credit score and reduce your debt-to-income ratio, helping your credit.

2. Know Your Credit Score
TransUnion, Equifax and Experian are the three major credit reporting agencies.  Unfortunately, they can make mistakes.  People have had nasty surprises when pulling their credit, from intentional identity theft and fraud to being assigned someone else’s debt accidentally.  Pull your credit and check the reports over carefully to make sure that you are clean and accurate.

3. Don’t Add More Credit
Stop buying expensive stuff.  I know, it sounds harsh.  But everything you buy affects your debt-to-income ratio, particularly if you buy them on credit.  You have to save and not blow your cash on other things you don’t need if you want to buy a home in 2018.

4. Get Pre-Approved Before You Shop
Call us and get your pre-approval for your mortgage today.  Let us tell you the budget and know how you can shop.

5. Put Some Cash Away
Start saving some cash.  You want to show us that you are responsible enough to make those payments, and the best way to do it is to have cash reserves that show you can weather an emergency.

Call The Home Loan Expert Team in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515, Nashville at (615) 810-8555 or Birmingham, AL at (205)721-7656.  You can always apply online at hero.loan for your VA Loan, and www.thehomeloanexpert.com for your other mortgage needs, and we’re also open on Saturdays and will come to you to help close your loan. We work hard to make it easy on you.  Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?

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