Credit and Your Path to Home Ownership
The ability to chase your dreams and become the person you want to be is perhaps the greatest thing about living in America. While there are many benefits and advantages of living in a free, democratic society, the freedom to pursue your dreams may be the biggest advantage of them all.
One of the most common goals in life is the dream of owning a home. A place to call your own, where your family, friends and anyone else you want over can relax and have fun. A home base for your grand life plans. However, the path to homeownership isn’t as simple as one would hope. There are some steps to take and important information to gather.
The Challenges in Buying a Home
There are a few daunting challenges that come with the pursuit of purchasing a home. The most obvious factor is the price. Most people don’t have hundreds of thousands of dollars sitting aside to buy a house outright. That means to buy a home, most people need to get a mortgage. What is a mortgage?
A mortgage is a specific type of loan that is used to buy a house. They are low-interest, long-term loans that are designed to allow buyers to get a loan to buy a house while not having the majority of the payment on hand. To get a mortgage, you will need to have good (hopefully great) credit.
Can I Increase My Credit 100 Points Overnight?
The idea of needing good credit to get approved for a mortgage can be terrifying for some. If that is you, the questions, “Can I increase my credit by 100 points overnight?”, “How do I increase my credit 100 points overnight?” and “Is there any way to increase my credit 100 points overnight?” are likely the questions you’re asking yourself, your friends, Google and any other sources of information you can find.
What is Your Credit Score?
Your credit score is a 3-digit score (between 300 and 850) that is given to every person by credit reporting bureaus based on a multitude of factors that have to do with “creditworthiness”. What are these factors?
- Payment history
- Credit utilization
- Length of time with credit
- Types of credit
- New credit
All of these factors play an important role in your credit score. It is your credit score that will be one of the key components to getting approved for a mortgage. The challenging part can be that sometimes, people have bad credit scores due to bad decisions or unfortunate circumstances in the past. Can a bad credit score be changed?
Are There Options to Change a Bad Credit Score?
If you have a bad credit score, have no fear. There are ways to change your credit score in your favor. The answer to your earlier questions about whether you can increase your credit 100 points overnight is yes! To do this, you need to partner with the right people.
CreditRentBoost.com can help you increase your credit score so that you are more likely to be approved for a mortgage. How? By allowing you to report your rent to a credit bureau to increase your credit score.
Reach out to CreditRentBoost.com to see how you can begin increasing your credit score today. The dream of owning your own home has never been closer!
