Our Recent Posts

Tags

No tags yet.

Get Your Credit Score Up Before Buying a Home


Home prices in Colorado have gone up considerably the past ten years. That's why it's important to get your credit score up before getting a mortgage. This will allow you to get the lowest interest rate possible and ultimately leading to a lower payment.

Here are three tips to help:

1) BE CAREFUL ON GETTING YOUR CREDIT PULLED

We all want to see our score but there's a big difference between a hard pull and a soft pull. In order to prequalify for a mortgage, a credit pull is required in order to make sure you're qualified but sometimes can be premature.

2) DO NOT USE MORE THAN 30% OF YOUR ALLOWED CREDIT CARD BALANCE

We may be allowed to rack up $10,000 on our credit cards but most people don't know if you use over 30% of that balance, it could negatively effect your credit score. Try to keep your balance below that threshold.

3) CLOSING ACCOUNTS

This is another common mistake. If you don't use a credit card, it's best to just keep it at a zero balance rather than closing it. Eliminating an account can have a dramatic effect on your credit score.

Please call Colorado Capital Group in order for us to help.

#coloradomortgage #homebuyingincolorado #refinancingincolorado #howtogetmycreditscoreup #coloradocapitalgroup #mortgage #denvermortgage

NMLS: 390669

T: (303) 940-3456

F:(303) 940-3234

12081 W Alameda Pkwy #173 Lakewood CO 80228

  • Black Google Places Icon

©2018 BY COLORADO CAPITAL GROUP.