Not only homeowners need to have good credit! Having good credit is important for investors as well to buy under market value property. We now have a professional loan officer in house to help our investors and consumers (contact us if you are looking for a TX home or investment loan). Here are some little credit repair secrets to boost your score quickly.
#1 Become an authorized user. If you have a good friend or relative you trust with a good credit score, you can become an authorized user on their card. This can raise your score 10-20 points fast, if the card has a high limit and low utilization rate. NOTE – some cards do not take your social security number when you are added as a user, so your credit score will not be improved. Check with the credit card company.
#2 Keep a 1% balance. Doesn’t that sound nuts? But it is the truth – if you have a card with a high limit and don’t use it at all, you will not get as much benefit if you keep a 1% balance.
Contact us if you need credit repair help to help you buy below market value property; we have a trusted expert available. Also contact us if you need a TX home loan.