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How Your Credit Can Make It or Break It for You

With interest rates still at record lows, and the housing market showing signs of improvement, now is the ideal time to invest in Gulfport real estate. To ensure that you’re ready for your new purchase, you’ll want to get your finances in order to help strengthen your appeal toward mortgage lenders. 
 
Check Your Credit Rating
 
After you’ve found the home of your dreams and have applied for a loan is not the best time to check your credit rating. You can start the process as you begin your home search. This way you can look over your credit history and check for any inaccuracies. If you find any blemishes, you can get them rectified immediately.

Gulfport real estate and your credit score

 Develop Solid Credit History
 
Paying cash for everything may be a great way to stay out of debt, but it can be difficult for a lender to approve your loan. Lending institutions want to see how you handle your money and whether you pay your bills on time. To develop solid credit history, concentrate on obtaining one credit card and pay it off on time each month. Someone with little credit history has a better chance of securing a loan than an individual with too many credit cards. Consolidating your debt into one credit card can strengthen your credit rating.
 
Budget
 
In addition to a favorable credit rating, you need to have a plan in place to help you save money. Put together a budget to determine your needs such as rent, food, utilities and gasoline. Look over your expenses and see if there are any areas that you can tweak. If you go out to dinner several times a week, try cutting back to only once. For those that enjoy a daily latte at their favorite shop, try making your favorite blend at home instead. Put the money that you would have spent on these luxuries in a savings account to help ensure a substantial down payment on your Gulfport real estate purchase. 

Testimonials

After browsing through houses for a few weeks on Zillow, Trulia, Movado, etc. I was feeling so overwhelmed and then God sent an angel! Mary called me out of the blue and I didn’t know what to do but accept her assistance. I am so glad I did! She has made the hassle of house searching and buying such a memorable and enjoyable experience. Mary has been upfront with us about each house we’ve looked at, giving us the positives and negatives. Mary wasn’t just interested in selling us a house. S…
Steven and Sarah Stogner