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Valerie Mcevoy's Blog

By Valerie McEvoy | Agent in Oklahoma City, OK

Buying a Home in OKC? Take Action on Your Credit!


Buying a Oklahoma City Home?
Oklahoma City HomesImprove your credit score BEFORE you start looking for homes for sale in Oklahoma City.

When you are looking for a mortgage for your Oklahoma City Home, your credit score is very important. Any potential lender will check your score and will use the number to assess the interest rate that they offer you. The better your credit score the lower the mortgage interest rates will be available to you, as the lender will be able to see that you can handle credit well. However, if you have a very bad credit score it could be causing you to be offered high interest rates on your mortgage that could cost you thousands over the years.

As a professional Oklahoma City Realtor, I can tell you that improving your credit score before searching around for a mortgage will ensure that you get the best rate possible. Looking to buy a home in Oklahoma City, but you are not sure about your personal credit? What can you do to improve your credit score?

Be Patient

Remember that improving your bad credit will be a little bit like losing weight. Like any change of habit, it can take some time. You might not see results right away but it is the long-time results of your good habits that will make all the difference. When it comes to all of the ways to improve your credit score, there are no quick-fixes and the best way to rebuild your credit is to be responsible over time. Take personal responsibility for the status of your credit and make changes in behavior to improve it.

Check Your Credit Report

If you don’t know precisely what your credit score currently is, the first step will be for you to obtain a credit report. You can request a free copy of your credit report and check it over carefully for errors. There might be an error on the report that is making your score appear worse than it should be.  When you plan to buy a home, you want to know what is on your credit report and you want that information to be correct and accurate! I can assist you in obtaining and understanding your credit report at www.ListedByValerie.com.

Set Up Payment Reminders

If you have trouble remembering to make your credit payments by the due date, this can be one of the biggest negative factors bringing down your score. You can ask your bank to set up convenient reminders through the online banking portals so that you will receive an email or a text whenever your payments are due. Online banking is usually free and packed with features to help you manage your account online without even having to visit the bank office or stand in line in the lobby!

It is very important to improve your credit score before looking for a Oklahoma City Home mortgage, as it will mean that you receive much better options for interest rates. Buying a home in OKC means that you need to prepare. Take the credit preparation steps as mentioned above to get the best rate on a home loan mortgage. Your chances of getting your dream home in Oklahoma City will be greatly enhanced if you take action on your personal credit. Keep these tips in mind so that you can enjoy the best rates possible on your mortgage. For more real estate tips, feel free to contact me at valeriemcevoy@remax.net or phone me at 405-414-5022.

Resources for Buying a Oklahoma City Home:

  • improve your credit score

http://money.usnews.com/money/personal-finance/articles/2012/04/16/6-surprising-ways-to-boost-your-credit-score

  •  bad credit score

http://credit.about.com/od/creditrepair/qt/What-Is-Bad-Credit.htm

  • error on the report

http://www.consumer.ftc.gov/articles/0151-disputing-errors-credit-reports

 

You CAN buy a Oklahoma City home and get a good mortgage rate to finance it. It just takes some proactive action and credit research to make sure that your OKC home purchase is financed with the best mortgage loan rate to achieve your dream of owning a home in Oklahoma City.

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