Why You Should Improve Your Credit Score Before Looking for a Santa Cruz Home Mortgage

Posted by Lauren Spencer on Monday, July 1st, 2013 at 1:01am.

When you are looking for a mortgage for your Santa Cruz Home, your credit score is very important. Any potential lender will check your score and will use the number to assess the interest rate that they offer you. The better your credit score the lower the mortgage interest rates will be available to you, as the lender will be able to see that you can handle credit well. However, if you have a very bad credit score it could be causing you to be offered high interest rates on your mortgage that could cost you thousands over the years.

Improving your credit score before searching around for a mortgage will ensure that you get the best rate possible. But what can you do to improve your credit score?

Be Patient

Remember that improving your bad credit will be a little bit like losing weight. You might not see results right away but it is the long-time results of your good habits that will make all the difference. When it comes to all of the ways to improve your credit score, there are no quick-fixes and the best way to rebuild your credit is to be responsible over time.

Check Your Credit Report

If you don’t know precisely what your credit score currently is, the first step will be for you to obtain a credit report. You can request a free copy of your credit report and check it over carefully for errors. There might be an error on the report that is making your score appear worse than it should be.

Set Up Payment Reminders

If you have trouble remembering to make your credit payments by the due date, this can be one of the biggest negative factors bringing down your score. You can ask your bank to set up convenient reminders through the online banking portals so that you will receive an email or a text whenever your payments are due.

It is very important to improve your credit score before looking for a Santa Cruz Home mortgage, as it will mean that you receive much better options for interest rates. Keep these tips in mind so that you can enjoy the best rates possible on your mortgage.

For more real estate tips, feel free to contact me at Lauren@LaurenSpencer.com or phone me at 831.662.6522.
For additional real estate information, please visit my home page at www.MySantaCruzRealEstate.com.

Resources:

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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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