4 Tips to Improve Your Credit Score

September 13, 2010

We see McHenry County new home buyers on a regular basis who are interested in buying a new home, but concerned that their credit score might not be high enough to qualify for a mortgage. Often scores in the mid 500s will prevent them from buying their dream home. If this is the situation you are in, don’t despair. Here are some tips from industry expert Ilyce Glink for ways to improve your credit.

  1. Get a copy of your Credit Report – Review your credit report. Look closely for any errors. Make sure everything on your report makes sense.
  2. Pay bills on time – always pay your bills on time and if possible pay them in full each month.
  3. Use your credit wisely – use your credit cards wisely. If you don’t have a card, open an account and make sure to pay the bill in full at the end of the month.
  4. Start a savings account – while you are working on repairing your credit is a great time to start stashing away money for a down payment. Lenders require a higher percentage downpayment than previously.

You can find many more tips for fixing your credit history at Think Glink. While you are working on your credit, come tour our communities. We’d love to work with you to buy your dream home!

About The Author

Read All Stories By Gerstad Builders

Roger Gerstad is the president of Gerstad Builders, a family-owned and operated company committed to construction of homes of the highest quality known to the industry. Roger is a graduate of Bradley University and was educated in the field of construction through the wisdom and leadership of his father. Gerstad has developed the communities of Mill Creek, Waters Edge, Winding Creek, Deerwood, Chesapeake Hills, Abbey Ridge, The Trails of Winding Creek, Pebble Creek, Timber Trails, The Trails of Boone Creek, The Trails of River Oaks, The Towns of Boone Creek, Liberty Trails, and Abbey Ridge Townhomes in McHenry, Illinois as well as Pheasant Ridge in Richmond, Illinois, Bailey Estates in Williams Bay, Wisconsin and Dawson Creek in Poplar Grove, Illinois.

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