How To Repair Your Credit Score In 6 Steps

A great credit score gives you several advantages when you’re ready to buy a home, including access to lower-interest mortgage rates. On the other hand, a lower credit score might have negative implications during the home buying process.

The credit score required to buy a home depends on the type of loan you’re applying for, but the higher your score is, the easier it will be to get a mortgage loan in general. This is why it’s important to repair your credit score before you embark on the home buying process.

Before we provide a background on credit scores and how they work, here are some tips to help you fix your credit score, which we’ll discuss in more detail later.

6 Tips To Fix Your Credit Score: At A Glance

1. Check your credit report often and look for errors.
2. Focus on small, regular payments and control your spending.
3. Reduce your high-balance accounts and use credit cards sparingly.
4. Consider a debt consolidation loan.
5. Work with a credit counseling agency or credit repair company.
6. Build toward a target credit score.