How To Repair Your Credit When You Are Preparing To Buy A Home

Buying a home is probably one of the largest investments you will ever make, and because it is such a large investment the risk of you defaulting on a mortgage loan is higher than the risk of you defaulting on a smaller loan. Because of the risk involved with such a large investment, your credit score will be a large factor in determining whether you are able to get approved for a mortgage loan and which terms will apply to your loan. If you have a bad credit history or a low credit score, you may still be able to be approved for a loan, but it will typically require a larger down payment and a higher interest rate. But don’t worry, we have some tips to help you repair your credit when you are preparing to buy a home!

Dispute Errors

Once you have thoroughly reviewed your credit report from all three credit agencies, you will likely have found at least a few errors if you reviewed the reports closely. You will want to dispute any inaccurate information you find on your credit report, including personal information such as old addresses and financial information such as late payments and debts. It