Improve Your Credit Score to Get a New Santa Cruz Condo

Posted by Lauren Spencer on Wednesday, June 24th, 2009 at 2:01pm.

If you are sitting there shocked because you tried to buy a new Santa Cruz condo and found out when you applied for a loan that your credit score 'bounced,' don't be discouraged. There are things you can do to improve your credit score in a hurry. While it's best if you work on cleaning up your credit long before you start looking for a home, in a pinch, making just a few changes can make a big difference.

Get the Reports

First, get your own copies of your credit report from the three major reporting bureaus. They will probably mirror each other but each one can have a few different items that you would miss if you only got one report. Plus, you will notice that each one has a slightly different judgment on your credit.

Check for Errors

Yes, credit reports can have errors in them; the people that report to them and the people that update your account are only human.  Report any errors and include proof, if at all possible.

Check for Major Problems

If you have major dings on your reports that you can explain (such as missed payments because of a temporary job loss, hospitalization or caring for an elderly parent), write a letter explaining what happened.  Take that letter with you when applying for a loan for your Santa Cruz condo. A mortgage provider may consider giving you a loan as long as it looks like you have recovered from the problem and are back on track.

Pay Up

Or rather, pay down. Do as much as you can to pay off outstanding balances so that your debt to income ratio is lower. You don't have to pay everything off, but the lower your debt the better.

Doing just a few things can make a huge difference to your credit score and help you get the loan you need for your new Santa Cruz condo.

If you have any questions about what you can do to improve your credit score, give me a call today at 831.662.6522 or email me at



Improve your credit score

Three major reporting bureaus:

Debt to income ratio

About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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