Simple Credit Repair for Home Buyers, Refinance, Debt Consolidation. Easy Qualify by Tim Marose

www.tmmortgagegroup.com

Qualifying for a mortgage today is tough! A credit score below 580 makes it almost impossible to get a loan. A score below 650 presents challenges as well. Every point counts, so here are a few simple steps to increase your score in a short period of time.

1) Pay down the balance on your credit cards. The closer you are to your limit on a credit card, the more impact it has on your score. If you have a Visa card with a $1000 limit, and owe $992, you have used up 99.2% of your available credit. Pay that down to $500, and you only owe 50% of the limit. Your scores will move up.

2) Don´t close the cards once you pay them down or off. The credit bureaus score better when you have available credit. Closing a $5000 Visa without a balance takes away a huge chunk of available credit. Leaving that account open without a balance shows you have a resource for funds if needed.

3) Don´t let your accounts be 30 days late. A payment that is 15 days late may cost you a hefty late fee, but being 30 days late on an account will cost you a ton of points on your credit report. Put a budget together and get your accounts paid before 30 days.

4) If you have no choice but to be late, pay the biggest balances first, and work down to the smallest. The bigger the payment, the bigger the impact a late payment of 30 days will cause. A payment 15 days late will likely not harm your credit report.

To learn more ways to improve your credit and to qualify for a loan, check out www.tmmortgagegroup.com or call 1-800-696-1424.