Team Lasson is helping so many people buy the home of their dreams, and if you want to buy real estate in 2020, we want to help you as well. Here are a few ways you can start improving your score and getting ready for your next mortgage.
1. Be Aware Of Your ScoreNo matter what your credit goals are in the coming months, you have to know what your score is so that you know what you need to do to improve it. There are several ways you can request a copy of your credit report, so make sure you take advantage of the opportunity. In fact, many places offer it for free, so do some research and get started. You will want to make sure that you check for errors that could be negatively impacting your score.
2. Keep Up On Your PaymentsThis is of utmost importance - you need to pay your bills on or before the due date. A late payment can knock a few points off of your score - and that is before it goes to collections. Late payments can also stay on your credit report for a while, so it is important to avoid paying late.
3. Build Your Score WiselyThe value of having a good credit score is that it can give a lender a snapshot into how you will handle a line of credit. If you have no credit history, there are ways to start building your score through smaller loans and making your payments on time. With some diligence, you can have a positive credit history to show future lenders!
4. Manage Your Credit ResponsiblyWhen considering your credit lifestyle, less is actually more. You can cancel credit accounts and get new ones, but this can cause a negative impact on your credit score and take a lot of time to repair. You may even want to start limiting your credit. When limiting your credit, you may want to avoid applying for new accounts, transferring balances, or concentrating all of your credit-card balances onto a single card - these actions can lower your credit score.
Considering Buying a Vacation Home?If you have been dreaming about a relaxing vacation at the Lake of the Ozarks, this may be the perfect time to buy a vacation home at the Lake of the Ozarks! Team Lasson can help walk you through the mortgage steps and make the best choices for your credit accounts and finances. If you are ready to get started, visit our website (www.YourLakeLoan.com) to submit your application. We will review it and can then discuss the best plan of action based on your finances at the time. We love helping people secure their dream homes, and we cannot wait to assist you on the journey of a lifetime!
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Senior Loan Officer
NMLS #: 493712
4655 B Osage Beach Parkway
Osage Beach, MO 65065
**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.