Top 5 Tips To Improve Your Credit Score To Buy A Home

Dated: 06/23/2019

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Our Top 5 Tips To Improve Your Credit Score

True or false? You need to have REALLY good credit to buy a house. The answer is: False! Yes, having a great score (above 720) will help you qualify for better rates but you do not need a near-perfect score to purchase a home. The chart below shows the minimum credit score needed in order to qualify for different loan programs.

FICO and Home Loans

Do you know your credit score? You can check your score for free at these sites:

1.  Credit Sesame

2. WalletHub

3.  Credit Karma

4.   Annual Credit Report

Tips to raise your credit score 

If you find that your credit score is below 580, we recommend following these tips so that you can qualify to purchase a home. These tips do not cost a fortune (some are even free) and they work QUICKLY.  

1.Experian Boost is a free service that can be done completely online by anyone who opts in via the  Experian website

Those who opt in link the bank accounts they use to pay their phone and utility bills to the Experian website, allowing the company to track their monthly payments. Those consumers whose records show timely payment history will see their scores immediately boosted when the new data is added.

2. UltraFICO, also a new product by Experian

3. Do you have a relative or friend with excellent credit? Ask them if you can be added as an authorized user on their credit card. Boost your scores through the roof, quickly. No, they don't actually have to give you access to their card--tell them to have the card mailed to themselves. But having the card added to your credit report boosts the score right away.

4. Get credit for paying rent on time. With Rental Kharma, they will add up to 2 years of timely rent payments to your credit report, and it takes 2 weeks to raise your score 40 points (they have a disclaimer that they don't promise a specific score, but have testimonials from past clients, and a money back guarantee)

5. I recommend to watch this video, not necessarily for a quick fix--but excellent advice about credit improvement: WATCH CREDIT TIPS VIDEO HERE

2 programs that cost a small monthly fee to help repair your credit:

Blue Water Credit

Want to speak directly with a lender to see if you qualify for a home loan? Here is a  list of my local preferred lenders:

1. James Clark, Guaranteed Rate  916-412-0909


2. Sumer Lopes, Summit Funding  916-813-2243


3. Tracy Schroeder, Big Valley Mortgage  925-918-0170


4. Darin Marquardt,  American Financial Network  916-716-9115


Video Explaining Loan Pre-Approval Process

10 Questions to ask a Lender
10 Things a Lender will Probably Need From You

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Cathy Davis

Cathy is a staunch advocate for her real estate clients, always focusing on a win-win scenario during negotiations. She began her real estate career in 2013 after working for over 20 years as a nurse ....

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