Tuesday, December 15, 2015 - Article by: MEL SMITH--LENDER OF THE MONTH - Meadowbrook Financial Mortgage Bankers -
One of the best means to obtain a lower mortgage rate is to improve your credit score. Higher credit scores can grant you access to lower rates and more beneficial loan programs. So, if you are concerned with keeping your credit score in good standing, or gradually improving your score over a period of a time, they're some simple things to implement. The most successful methods to keep a consistently good credit score are as follows:
The last method might be challenging as you will need to resist the pull to use the available credit for non-essential purchases. However, your credit score gets better the longer that your accounts are open and current. Lastly, you can speak to a financial planner to design a personalized credit improvement plan for your specific needs. Creating this relationship can greatly assist in improving your future mortgage costs.
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