Home Buyers Guide
Credit Do’s and Dont’s
Stay current on your existing accounts. One late notice can cost
Continue to use your credit conservatively. Pay up charged up balances down before your next statement date to avoid credit score decreases
Call your mortgage professional before any changes that would affect your credit
Apply for new credit as it may lower your score
Max out credit cards. Keep balances below 30% of their limit
Consolidate your debt. Avoid maxing out any card or loan
Close credit card accounts. This may throw off your debt ratio.
Pay off collections or “charge offs”. Do this only after consultation with loan officer.