- Paying your bills on time - Apart from extreme circumstances like bankruptcy or tax liens, nothing has as big of an impact on your credit history as late payments especially mortgage or rent payments.
- Don't max out available credit on credit card accounts. Your credit score may be affected based on the appearance that you are having trouble managing your finances.
- Don't apply for too much credit in a short amount of time. Multiple requests for your credit history, (not including requests by you to check your file) can affect your score.
- Be neat and consistent when filling out credit applications. This will ensure that all of your information is recorded under the same correct name, as opposed to multiple names or, worse, someone else's file. (ex. Similar names like Jon, John, Jr, etc.)
- Periodically check your credit history for errors. If you would like a free copy of your credit report, go to www.annualcreditreport.com. At this website, you can get a copy of your credit bureau each year for free.
Credit scores are a key component to taking advantage of the wide array of deals available in the Steamboat Springs real estate market right now. Be sure and ask your Steamboat Springs real estate agent and the folks at Yampa Valley Bank if you have any questions regarding your credit. We are here to help you in all facets during the real estate process.
Article provided by: Kathryn Pedersen
Mortgage Officer
Yampa Valley Bank
Office: 970-875-1609
kpedersen@yampavalleybank.com
is a registered service mark of The Prudential Insurance Company of America. Equal Housing Opportunity.