Statistics show that potential home buyers who know their credit scores feel significantly better prepared to buy a home. Yet, surprisingly, only half of recent home buyers say they checked their score once they began considering entering the buyers’ market.
Over 40 percent of future home buyers are concerned that their current credit will not allow them to qualify for the best load rate while close to 60 percent say they actively working to improve their score.
Not sure how to improve your score? A full 35 percent of those surveyed aren’t sure either.
Analysts agree that the top actions to improve credit are paying off as much debt as possible, always paying bills on time, keeping balances low on credit cards, protecting current accounts from fraud or identity theft and not applying for or opening new credit card accounts before trying to purchase a home.