How to Fix Your Credit to Buy a Home
Poor credit history can negatively impact your chances of purchasing a home. Your three-digit credit score tells the story of how good you are at paying your debts. The problem is that your credit score often tells an inaccurate story. Case in point, people who use cash to pay for everything will have a lower credit score compared to those who can successfully juggle loans. Trinity Credit Services offers credit repair for home loans.
The Importance of Having a Good Credit Score
A bad credit report will make it challenging to finance significant purchases, including buying a home. This is why it's crucial to repair your credit score before you even think about shopping for a new home. Once you get your credit score corrected, you'll have a significantly better chance of getting approved.
If you have a low credit score, the bank will charge you higher interest rates for a home loan. The bank will also ask you for a more significant down payment in cash. A terrible credit score will have your loan application denied.
How Your Credit Score Is Calculated
Your credit score, or your FICO score, is a three-digit number ranging from 300 to 850, which is calculated using complicated formulas and use to measure your credit risk. Your credit score takes into account your:
- Payment history (35%)
- Outstanding debts (30%)
- Credit history length (15%)
- Types of credit used (10%)
- New credit amount (10%)
If your credit score is below 670, you should do something to clean up your credit to increase your score. Trinity Credit Services can help you by correcting any inaccuracies in your credit report.
Contact Trinity Credit Services Today for Credit Score Repair
Trinity Credit Services is one of the few credit repair companies that use legal means of restoring your credit. We are proud to let you know that we've helped more than 20,000 clients improve their credit rating. We employ a multistage process to remove inaccuracies and unverifiable information from your record. Best of all, we offer a 100% money-back guarantee, so there’s no risk on your part.
For more information about our services, please call 844-844-0701 or visit our Contact Us page.