Buyers Agent, Family, Real Estate

Need a Boost?

Lately I’ve been working closely with first time home buyers – something that brings SO much joy to this seasoned (but not jaded!) broker’s heart! In working with those newbies, I’ve spent a lot of time working toward pre approvals. Nine times out of ten, credit score and the accumulation of adequate trade lines is what stands between younger first time home buyers and getting that crucial green light from their lender of choice.

So – when this article, shared by Florida Realtors but originally sourced through  the article : “Here’s How to Improve Your Credit Score Right Away,” CNBC (Feb. 25, 2020) , came across my desk, it seemed prudent to pay attention!


The basic gist is this: to gain optimal advantages in mortgage rates, you’ll want to shoot for a credit score of 750 – although to get pre approved, the general magic number is right around 640 (though some lenders will work with scores as low as 580!).

You can boost your score by as much as 20 points within a matter of weeks simply by paying down credit cards and making your payments on time! If you’ve recently missed a single payment or two, you’ll see that change reflected fairly quickly. However, if it’s become a recent pattern, or if you’ve been missing mortgage payments in particular, it could take longer – up to 9 months for those new timely payments to reflect in a higher score.

Growing solid credit is not as much of a mystery as it may seem! And if you’re setting realistic goals for your budget, it’s as simple as making your monthly payments and living within your means that can bring the greatest reward – the keys to your first home!

Read the full article HERE!

And then remember to give me a call when it’s time to start looking for your next home. I’m always happy to help!


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