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Whether you’re planning to buy or rent, your credit profile can impact whether or not you’re able to get the home of your dreams.

Improving Your Credit to Buy a House

Before you apply for a mortgage loan, make sure your credit history is in order by thinking about the following factors:

  • Credit Obligations: Make sure you’re current on all of your accounts (credit cards, loans, etc.)
  • Credit Utilization Ratio: Using too much credit may negatively impact your score.
  • Credit History: A long history of on-time payments is ideal.
  • Account Types: A diverse mix of accounts (such as credit cards, student loans, an auto loan, etc.) shows that you manage a variety of credit obligations.
  • Debt-to-Income Ratio (DTI): While your income is not part of your credit report, many lenders will ask for income information to make a more informed decision.

You Cannot Opt Out of Rent Payment Reporting

December 21, 2011

Dear Experian, How do I opt out of The Rent Bureau? - DWH

Mortgage Company Not Required to Report Payments

September 28, 2011

Dear Experian, I am a homeowner for five years now, and am wondering why my mortgage company does not have to report my mortgage to the three credit bureaus....