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Credit Score Essentials

Are you ready to open the door to your dream home? At The Stern Team, we believe that achieving your homeownership goals starts with understanding the essentials of credit scores and taking actionable steps to improve them. Your credit score plays a crucial role in determining the terms and rates you qualify for when securing a mortgage. That’s why we’re here to provide you with actionable strategies to boost your credit score and unlock better rates for your home financing.

  1. Dispute Inaccuracies: Under the Fair Credit Reporting Act (FCRA), you have the right to dispute errors on your credit report.
  2. Check Your Credit Regularly: Monitor your credit reports for errors at AnnualCreditReport.com or with free tools.
  3. Maintain Low Credit Utilization: Keep your credit card utilization below 30% to show responsible management.
  4. Timely Bill Payments: Paying bills on time is crucial for building credit.
  5. Address Past-Due Accounts: Prioritize paying off past-due accounts to improve your payment history and reduce debt.
  6. Manage Hard Credit Inquiries: Limit new credit applications to avoid multiple hard inquiries.
  7. Consider Secured Credit Cards: If facing approval challenges, a secured credit card can help build credit with responsible use.
  8. Beware of Quick Fixes: Be cautious of services promising rapid credit score improvements.

Don’t let credit challenges hold you back—let us help you turn them into opportunities for financial success