Check Your Credit Report

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Real Estate

Check Your Credit Report

Happy New Year!!

If you are thinking about buying a new home in 2021, one of the first steps to take to obtaining your dream home is to check your credit report. According to, most loan types, the credit score needed to buy a house is at least 620. But higher is better, and borrowers with scores of 740 or more will get the lowest interest rates. 

Current interest rates for VA and FHA loans for a 30 year mortgage start at 2.25% and conventional loans start at 2.75%.

Credit card companies and lenders rely on credit scores, which determine someone’s chances to borrow money — and how favorable the terms will be.

Check your own score yearly by ordering reports from the three major credit scoring companies: Equifax (, Experian (, and TransUnion (

Notify the credit bureau of inaccuracies. Close accounts not in use. Request that late payments older than seven years be removed. Verify and update accounts and account numbers. Verify address and Social Security number.

How to Improve Your Score: Pay your bills on time. Reduce outstanding debt. Build up your savings. Don’t fall for illegal schemes that help you create a new credit identity.

If you want more information on the steps to buying your new home, contact me at (443) 699.4378 or email at, and I will get you started.