Strategies For Credit Scores From Contact Kate

by Wanting To Buy A House
(USA)

Strategies For Credit Scores From Contact Kate
Kate, My husband's credit score vs. my credit score... this is my mortgage question. My husband has worked really hard on getting his credit score up to par, but before we were married, I had some bad debts on my score, and I'm just wondering what will happen when we try to buy a house.



Will my credit score bring his down a whole lot? Are we better off just putting the house in his name?


Strategies For Credit Scores From Contact Kate


Dear Friend,

With a little effort, you can fix your credit score. Simply follow my steps on How To Fix A Credit Score. With a little elbow grease and a little time, you can turn your credit report around.

Most mortgage lenders will use the lowest credit score of two borrowers. So it is important to pay attention to your credit report now. Don't miss what Kendra accomplished. If she can do it, so can you!

Whether a mortgage lender will allow your husband to buy a home separately depends in part on which state the home is located in and also where you both live. So be sure to ask.

For more help getting ready to buy a home, start with my 10 best kept secrets to low mortgage payments.

Best wishes and good luck,
Kate

P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information. Subscribe now to the RSS feed.

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The information you obtain at this site is not, nor is it intended to be, a substitute for financial, real estate or legal advice. You should consult an attorney, accountant, lender or real estate agent, as applicable, for advice regarding your individual situation.

Comments for
Strategies For Credit Scores From Contact Kate

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Great Resources
by: Cheryl

Thanks Kate for providing such a great resource for credit score strategies. I learned a lot!

Good Tip on Closing Accounts
by: Melissa

These are great tips from your "Fix a Credit Score" page that I wish I had known about before it was too late...

# Tip: Do not cut up credit cards after paying them off - paid accounts improve and fix a credit score

# Tip: Do not close old accounts - a seasoned credit history will improve and fix a credit score

In an effort to keep myself from getting too far in debt, I closed some higher interest accounts that I was afraid I would be tempted to use. They have high available credit allowances also. Now, I've read that keeping those cards would have served a better purpose in keeping my credit score higher.

My available credit would have been higher, had I kept those accounts. I think this is supposed to increase scores a bit. I thought I was helping myself, when I was actually hurting myself.

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