You have come to that place in your life when you want to buy a home or condo. People are giving you advice and someone has asked, “What is your credit score like?” First of all, is that something that is that important? Will that affect me buying a home?
If you are not sure what a FICO or credit score is, or know what it is but haven’t checked on it for a while, there are ways to find out. Look online for a free website that can show you what your score is. You don’t have to pay for this report, so don’t. Also, there are a few companies that contribute to your score, so if a few different scores pop up, don’t be alarmed. Some companies report later than others and take a little time to catch up to what you have paid down or paid off.
So, yes it is important to keep your score good and healthy. When buying a home or auto, you have a lot more options if your score is a good one – a better interest rate and other options could be available also just because of a good score.
Here are some tips to help you keep your score up and help with your buying power for a home, a car and many other purchases. If your score is not what you’d like it to be, these tips can help with that also.