Help me to boost my credit score
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godfree
Apprentice
Joined: 10 Nov 2004
Posts: 5
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 Posted: 07/23/08 - 06:26 Post subject: |
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| I have recently taken a mortgage. I was looking to buy a home, but with all the turmoil in the mortgages market I am having second thoughts. However, since that is the only way, I would like an advice. Help me to boost my credit score. Thanks in advance for any help. |
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trumaine
Apprentice
Joined: 20 May 2004
Posts: 8
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| Posted: 08/21/08 - 21:53 Post subject: |
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| The mortgage system works as any loan. You need to have enough money to make a deposit, and good enough salary to follow up with the payments. With a good credit rating, and a good history, you should get good deal because of your credibility. But before you apply, you should know whether you have a high enough credit score (over 650 is ideal). However, if you have low score, boosting it is the only way to make some improvement. You need to close some accounts and cancel credit cards which are not used much. Settling debts, and increasing salary can help as well. Hope you find the info helpful. |
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