Some home buyers make the mistake of assuming their credit score is fine, only to find out mid-home purchase there’s a problem.  Here are practical steps you can take to make sure your credit report is healthy.

1. Obtain your free annual credit report from annualcreditreport.com. You will be asked to pick a report from one of the “big 3” credit agencies. Not all creditors report to all agencies, so your single report may not be 100% complete. However, it will give you a starting point.

2. Scrub your credit history and check for any errors or fraudulent activity. File a dispute on inaccurate items and be prepared to back up your case with specific details. It can take upwards of 60 days for a correction to wind through the system.

3. You can obtain your credit score by visiting MyFico.com. This site also provides tips on improving your credit score. Please note, this site may offer you a “free” credit score in return for signing up for a monthly management program, which could cost you a bundle in the long run. There should also be an option to pay a one-time fee and get your score.

4. If you are over your head with debt and need help turning things around, the National Foundation for Credit Counseling can help you find Certified Credit Counselors right here in Columbus.  Beware of scams that promise to “fix” your credit fast; there are no magic wands for damaged credit. You can recover from credit problems, but it takes time.

5. When you are buying your Columbus home, avoid making big credit changes during the home buying process. Even after you have a mortgage approval, banks are likely to look at your file again right before you close on the house. Mortgage underwriters are required to question everything these days, and even a benign move, like closing an account, can cause red tape. In other words, it wouldn’t be a good time to finance that new car, or to put new furniture on your credit card.

This is just an introduction to credit facts, but it will get you started on the road to home ownership! For more information, I can refer you to reputable mortgage lenders in Columbus who can help you with home financing!

I’m happy to share these credit tips as a service to my clients. When you are buying a home in Columbus, OH, having me on your side as your Exclusive Buyer’s Broker will give you advantages you would not otherwise have! Please always remember that real estate agents and brokers all work for the seller, unless otherwise disclosed! Having your own broker on your side is the best way to ensure you do not overpay for a home, or get into a contractual situation that is not right for you.

Contact me and learn more about home buying strategies in Central Ohio! Also, download our free e-book for immediate tips that you can put to use today.

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

www.BuyersHome.com
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