What can you do if you want to become a homeowner but your credit score is too low? I have a few tips to share with you today.

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How can you purchase a property when you have bad credit?

The good news is that there are a number of ways to repair credit. In order to do so, you need to first understand why your credit is low.

Are you making late payments? Are you subject to collections or wage garnishments? Maybe you have a high debt limit. For example, if you pay off a credit card that makes up 30% of your debt, your credit score would rise significantly.

The best thing you can do is talk to a loan officer. Mortgage companies will pull your credit for free most of the time. Our preferred lender doesn’t charge you to pull your credit score. The loan officer will then examine why you have a lower score and tell you what you can do to raise it.

It can be overwhelming to attack certain credit issues. You may not be able to take on that huge student loan right away, but making minor tweaks can have a positive effect on your credit score.

If you have any other questions or need to be referred to a loan officer, just give me a call or send me an email. I would be happy to help you!