More and more people are getting tired of renting and are looking at how they can get into home ownership. One of the most important things required is ensuring you have great credit. So how do you do this? Below are the ฝากขายบ้าน top 5 ways to keep your credit in tip top shape or to get it to where it needs to be.
Remember, even if your credit is currently not in great shape, there are Rent to Own companies or mortgage specialists that can assist you in selecting your own home today while allowing you time to restore your credit.
1. Charge only what you can afford to pay
When you get into the habit of charging only what you can afford, it lets future lenders and creditors know that you are a responsible borrower. You will find it easier to borrow money and get new credit when you show that you know how to only borrow what you can pay back.
2. Use only a small amount of the credit you have
Maxing out your credit cards - or even coming close - is one of the most irresponsible ways of using credit. Chances are that you cannot afford to pay off a maxed out credit card balance. Lenders know that borrowers who max out their cards often have difficulty repaying what they have borrowed. Staying below 50% of your credit limit is wise.
3. Start with only one credit card
Many first-time credit card users accumulate a collection of credit cards within their first few years of using credit. Don't do this. The more credit you have, the more you will end up using.
4. Pay your balance in full and on time
If you are only charging what you can afford to pay, this will not be a problem. Paying off your balance each month shows that you are capable of paying bills, something creditors and lenders want to see.
5. Carry a balance the right way
Having a credit card balance is not bad as long as you do it the right way. Make more than the minimum payment each month to pay off your balance as quickly as possible. Avoid making late credit card payments and continue to keep your balance at a reasonable level. If you follow these principles, carrying a balance will not hurt your credit.
The 5 points above are great ways to stay on track or the path to get to get your credit to good standings. Like I mentioned earlier, if you are interested in selecting your home now there are many rent to own companies in your area that can assist you.
To know if you are dealing with a reputable Rent to Own company, once you have moved into your home and settled in, you should be able to arrange a one on one consultation with their mortgage lending specialist. By doing this, it will help you in restoring your credit to ensure you will be able to purchase the home in the next few years. Another key point to remember, each and every month a portion of your rent payment (typically $200-$400, depending on the program) is credited towards your down payment. In other words, it is an automatic force savings for you and your family. Now, unlike regular rental properties you will be put in full control of the home for a specified period of time without actually owning it. Your free to paint, finish the basement add a deck to the backyard and more.
So, if you've fallen off the band wagon for whatever reason, find either a good mortgage broker or a Rent to Own company that can assist you moving forward.
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