01
Make every payment on time
Payment history is an important part of your credit profile. Avoid new late payments and bring past-due accounts current when possible.
Mortgage Resources
Your Credit: Simple Steps to Strengthen Your Credit Profile
Preparing to buy or refinance? A few credit habits can make a meaningful difference. Here are five practical areas to focus on.
02
Pay down credit-card balances
Lower balances relative to your available credit may help your credit profile. Focus on reducing revolving balances and avoid running cards back up.
03
Think before closing older accounts
Closing an older credit card can reduce available credit and may affect utilization and the age of your credit history. Consider the potential impact before closing an account.
04
Limit unnecessary new credit
New applications can create hard inquiries. If you're preparing for a mortgage, avoid opening accounts you don't need and talk with your loan officer before making major credit changes.
05
Review your credit reports for errors
Check for accounts you don't recognize, incorrect balances, inaccurate payment histories, or other information that may need to be disputed with the reporting credit bureau.
A quick reminder
Credit situations are individual, and changes do not guarantee a particular score increase or mortgage approval. Before paying off, closing, opening, or disputing accounts during the mortgage process, it can be helpful to discuss the situation with your loan officer.
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