The picture is from FICO.com....depicting the things they use to determine that dang score of yours a lender will be looking at if you do want to buy a home next year!
Reading this post is great, reaching out to one of my preferred lenders is BEST! But, for a preliminary peek, read below, then.....reach out to me for lender referrals so you can work on whatever needs to be worked on for your dream home purchase!
"So how do American achieve these perfect scores? Here’s a few tips:
Mess up your credit: I know, it might sound off, or even ridiculous, but messing up your credit, while not doing you any favors in the short-term, could help you achieve that perfect score in the long run. The Bloomberg article explained that one consumer hurt their credit by applying for a multitude of credit cards. In the long run, however, these cards all worked to create a longer average credit history. (me again, sooooo don't recommend this!)
Pay down credit balance: While keeping card balances below 30% is recommended for a good credit score, one consumer reported keeping his balance below 5% to obtain his perfect score, the Bloomberg article states. In order to keep this low balance, Americans may even need to make payments to their card more than once a month. (me - doesn't everyone pay their cards off monthly?)
Don’t apply for new credit: One factor several consumers have in common is their pattern when it comes to applying for new credit. Many of them applied for several lines of credit at the beginning of their journey, which pulled their credit down initially, but gave it a boost later on when it boosted their average credit age. However, once they began to rebuild their credit, those with a perfect credit score didn’t apply for a new credit line, and instead applied to increase their credit limit when they needed a boost." (oh my, talk with one of my lenders about this please!)
Me again - my lenders will have plans just for you to help improve your credit score. You do NOT need perfection but any means. But, the better the FICO, the better the interest rate.