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<p><strong>Courtesy of Jimmie Van Hooser your REALTOR®  - 931-320-2142 </strong></p>
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<h3><strong>What You Can Do to Improve Your Credit </strong></h3>
<p><br /> Credit scores, along with your overall income and debt, are big  factors in determining whether you’ll qualify for a loan and what your  loan terms will be. So, keep your credit score high by doing the  following: <br /> <br /> <strong>1.</strong> Check for and correct any  errors in your credit report. Mistakes happen, and you could be paying  for someone else’s poor financial management. <br /> <br /> <strong>2.</strong> Pay down credit card bills. If possible, pay off the entire balance  every month. Transferring credit card debt from one card to another  could lower your score.<br /> <br /> <strong>3.</strong> Don’t charge your credit cards to the maximum limit.<br /> <br /> <strong>4. </strong>Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year.<br /> <br /> <strong>5.</strong> Don’t order items for your new home on credit — such as appliances and  furniture — until after the loan is approved. The amounts will add to  your debt. <br /> <br /> <strong>6.</strong> Don’t open new credit card accounts before applying for a mortgage. Too much available credit can lower your score.<br /> <br /> <strong>7.</strong> Shop for mortgage rates all at once. Too many credit applications can  lower your score, but multiple inquiries from the same type of lender  are counted as one inquiry if submitted over a short period of time. <br /> <br /> <strong>8.</strong> Avoid finance companies. Even if you pay the loan on time, the interest  is high and it will probably be considered a sign of poor credit  management.<br /> <br /> <em>This information is copyrighted by the Fannie  Mae Foundation and is used with permission of the Fannie Mae Foundation.  To obtain a complete copy of the publication, </em>Knowing and Understanding Your Credit<em>, visit <a href="http://www.homebuyingguide.org/">www.homebuyingguide.org</a></em>.</p>
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