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Whether you’re planning to buy or rent, your credit profile can impact whether or not you’re able to get the home of your dreams.

Improving Your Credit to Buy a House

Before you apply for a mortgage loan, make sure your credit history is in order by thinking about the following factors:

  • Credit Obligations: Make sure you’re current on all of your accounts (credit cards, loans, etc.)
  • Credit Utilization Ratio: Using too much credit may negatively impact your score.
  • Credit History: A long history of on-time payments is ideal.
  • Account Types: A diverse mix of accounts (such as credit cards, student loans, an auto loan, etc.) shows that you manage a variety of credit obligations.
  • Debt-to-Income Ratio (DTI): While your income is not part of your credit report, many lenders will ask for income information to make a more informed decision.

I Can’t Pay My Mortgage. What Should I Do?

August 15, 2017

Dear Experian, I haven’t been late yet, but I am having trouble paying my mortgage. I’ve lived here for many years and want to stay in the house. What...

Will I Be Able to Get a Mortgage Loan After Declaring Bankruptcy?

January 31, 2017

Dear Experian, I filed Chapter 7 bankruptcy almost eight years ago. Should I wait 10 years until this is off my credit report to qualify for a first time...

How Does an Eviction Affect Your Credit?

December 27, 2016

Dear Experian, I am trying to apply for an apartment but they say there is an eviction on my record. Where would I find this information and how do...

What is a Rapid Rescore? Is it something I should consider?

December 22, 2016

Dear Experian, I currently have a pre-approval for a home loan and would like to get a better rate by improving my credit scores. I have credit cards and...

What do you need to rent an apartment?

December 6, 2016

Dear Experian, I’m going through a divorce, and I need to get an apartment; therefore, I need advice on how to get my credit score up as much as...

Can I Report My Mortgage Payments to the Credit Bureaus?

November 29, 2016

Dear Experian, I would like to send in my payment history from my mortgage payments to be added to my credit report. My lender does not report, and I...

Can You Buy a House with Bad Credit?

September 8, 2016

Dear Experian, I would like to buy my first home. I have been cleaning up and paying down my credit. My score is going up but I still have...

Should You Pay Off Your Mortgage Early?

August 16, 2016

Dear Experian, Is it a good idea to pay off my mortgage early? What affect will that have on my score and how quickly will it go up? – LTD...

Are rent to own loans good for my credit?

August 4, 2016

Dear Readers, People often ask if rent-to-own loans help build a credit history. Unfortunately, the answer is no, because such loans are not currently reported to the credit reporting...

Impact of Missing One Mortgage Payment

July 16, 2016

Dear Experian, I admit I was late on one mortgage payment in 30 years, and my credit dropped 52 points. Is that normal for the credit industry, and am I...

How to Obtain a RentBureau Report

January 3, 2016

Dear Experian, How do I get a free consumer report from Experian RentBureau? My landlord has found incorrect information on the service he uses. - TNY

Previous Mortgage Still Appearing on Credit Report

December 19, 2015

Dear Experian, We refinanced our home with a different lender and my credit report is showing I have two mortgages. How long will it take for the lender that was...

The Effect of Delinquencies During a Short Sale

April 24, 2015

Dear Experian, Will it have more of an impact on my credit report if I stop making my mortgage payments and become 90 days or more delinquent during a short...

Mortgage Modification Programs and Your Credit Score

January 31, 2015

Dear Experian, I am beginning a government-sponsored HAMP mortgage modification program. My lowered first three trial mortgage payments will be reported as "partial payments.” After the trial period they will...

Experian Credit Report Does Not Include Eviction

January 23, 2015

Dear Experian, An eviction is showing on my credit report, per the leasing company I submitted an application to. I have never received paperwork for an eviction, but when I...

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