Buying a home is one of the most important financial decisions you’ll ever make—and your credit score plays a big part in that process. If your score isn’t where you want it to be, don’t worry. With the right steps, you can raise your score and position yourself for a better mortgage experience.
Why Your Credit Score Matters for Homebuyers
When lenders review your mortgage application, one of the first things they look at is your credit score. It helps them determine how risky it might be to lend to you. A higher score not only improves your chances of getting approved, but it can also lead to lower interest rates—which means saving thousands over the life of your loan.
What Is a Good Credit Score to Buy a Home?
Here’s a general breakdown of credit score ranges:
- 740 and above – Excellent
- 700–739 – Good
- 620–699 – Fair
- Below 620 – Needs improvement
Most conventional loans require a minimum score of 620, while FHA loans may allow scores as low as 580. That said, higher scores give you access to better rates and loan options.
5 Easy Ways to Boost Your Credit Score Fast
- Pay Down Credit Card Balances
Your credit utilization ratio—the amount of credit you use compared to your total limit—makes up about 30% of your credit score. Aim to keep your usage below 30%, ideally closer to 10%. - Don’t Miss Payments
On-time payments are one of the biggest factors in your credit score. Set up reminders or autopay so you never miss a due date. - Avoid New Hard Inquiries
Opening new credit accounts can cause a temporary dip in your score. Avoid applying for new credit cards or loans while preparing for a mortgage. - Keep Older Accounts Open
The length of your credit history matters. Even if you don’t use an old credit card much, keeping it open can help your score. - Dispute Any Errors on Your Credit Report
Check your credit reports for mistakes—like incorrect account statuses or duplicate entries. You can dispute errors through the credit bureaus directly and potentially see a quick bump in your score.
How Long Does It Take to Improve Your Credit Score?
Some improvements, like paying down debt or fixing errors, can affect your score in as little as 30–60 days. Other changes, like building a longer credit history, take more time. That’s why it’s smart to start the process early—ideally several months before you plan to apply for a mortgage.
Work with a Loan Officer to Build Credit for a Mortgage
At Best Interest Financial, we don’t just help you get a loan—we help you prepare for it. We’ll take a close look at your credit profile, answer your questions, and guide you on what steps to take to become mortgage-ready. It’s all part of our commitment to helping you move forward with confidence.
Get Help Improving Your Credit to Buy a Home
Ready to take the first step toward homeownership?
Let’s talk about where you are—and where you want to be.
📞 Call us at (586) 544-4101 or click here to connect with our team today.