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Expert Tips for Navigating the Real Estate Market

Our mission at Yoder Real Estate is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Helpful Tips on Improving and Maintaining a Good Credit Score



There are many great Grand Rapids area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (616) 942-2449 for a FREE home buying or selling consultation to answer any of your real estate questions.

Helpful Tips on Improving and Maintaining a Good Credit Score

 One thing we get asked about a lot by prospective home buyers is  the importance of a good credit score. Having a good credit score is the starting point of getting a home because you want to take care of your financing first before anything else. Your credit history is a compilation of all the pieces of your financial history. It includes every credit card you have ever opened, all your debt, loans and debt repayment history. Other information that impacts your credit score includes whether you've payed back credit card companies on time, filed bankruptcy, if a court has ordered you to pay a loan, or a debt has been deemed noncollectable. All of this information stays on your credit history and affects your score. If you have had money problems, or have failed to pay back loans in the past, you are a greater risk to a lender and more likely to be denied a loan. If you have bad credit, or are just starting to build it up, here are 5 simple things you can do to improve your score.

1. Start small
 One small card or loan can get the ball rolling for you and start building your credit score.

2. Pay off your charges in full at the end of the month
  By doing this, you demonstrate to lenders that you are fiscally responsible and less of a risk in giving a loan to.

3. Make your payments on time
 This is one of the most important things you can do. By paying on time, you are showing the lender that you are disciplined and responsible enough to make payments on time.

4. Keep your total charges within their credit limit
 This is another demonstration of fiscal responsibility that will prevent you from overspending on your limit.

5. Regularly read your credit report
 One way to build a positive history is to make sure you know what information is being reported. We recommend you to visit the free, online service AnnualCreditReport.com once a year  so you can see how your credit score is being rated by the 3 big credit reporting agencies, Experian, Equifax, and Transunion.

If you have any question at all about how to maintain or build your credit score, or any questions about real estate in general, please don't hesitate to contact us.