The previous blog entry addressed a few common sense steps to help you achieve YOUR American Dream. A large part of affording that dream is earning the best rate for your mortgage loan. Your past and current actions influence your credit score which ultimately impacts your interest rate.

There are several steps you can take to improve your score. Scores range from 300 (less than stellar score) to 850 (perfect credit). Generally, scores at 620 or above are looked upon favorably. The experts at MSN Money have a few tips and ideas on how to get closer to the ideal score.

• Credit card debt. As mentioned in the previous blog, paying off your credit card debt in a timely and efficient manner will help shed positive light on your credit score. You should also check your credit card limit. If your lender is reporting a lower limit, your credit score could be artificially lower. Also, avoid wild shopping sprees that will increase your balance, even if you pay your balance off monthly. Also, use some of your older cards—well established credit cards shed positive light to credit bureaus.
• Obtain a list of past negatives. If you had an issue with the utility company over an old unpaid bill that went to collections in the past you can continue to dispute it. The smaller the balance and the older the issue, the less likely the credit bureau will want to verify or investigate the dispute.
• Fix errors on your credit report. Many times, inaccurate pay off information can negatively influence your credit report. Obtain the report and review it with a fine tooth comb. Items to pay close attention to include late payments, charge offs, accounts listed as bankruptcy, negative older items and accounts listed as “settled.”

Source: http://articles.moneycentral.msn.com/Banking/YourCreditRating/7FastFixesForYourCreditScore.aspx?page=2

For information about how to obtain a copy of your credit report, click here or call us at AmeriFirst at 800-466-5626 today!