Buying Your First Home? Here’s How to Boost Your Credit Score

Buying Your First Home? Here’s How to Boost Your Credit Score

  • Heather Smith
  • 06/27/24

When you’re buying your first home, you want to put yourself in a position to get the best interest rate possible on your mortgage, and your credit score will play a major role in that process.

If you want to land a competitive interest rate, you need a competitive credit score. But how, exactly, can you push your credit score into “competitive” territory before buying a home?

recent article from outlined tips to boost your credit score before buying your first home, including:

  • Get rid of mistakes. If there’s a mistake on your credit report, it could be dragging down your score, so make sure to pull a copy of your credit report and verify that all of the information is accurate. And if you’ve mostly paid your bills on time, but have one or two late payments on your record, try calling the company’s reporting division and ask if they’d be willing to remove it from your credit report.
  • Increase your limits. Lowering your debt-to-credit ratio can provide a serious boost to your credit score. And while you would ideally pay off your debt, if that’s not an option, you could get the boost by increasing your credit limits. If you’re getting ready to buy a home, call your credit card companies and request a credit line increase.
  • Pay on time. If you’re chronically late with payments, it’s time to change that habit. In the stretch leading up to buying your home, make sure to prioritize paying every bill on time. Not only can on-time payments help boost your credit score, but it will also get you in the habit of paying your bills on time, which will help you stay on top of your finances as a homeowner.

Work With Heather

For most families, choosing a new home is the biggest financial decision they will ever make. There are many complicated decisions involved in choosing a home. As one of the top real estate professionals in the local market, I'll negotiate the best prices and terms for you and answer all of your questions as they arise.