Real Living Property for You

7337 W. Bell Rd., Peoria, Arizona  85382

If you are a home seller who is also thinking about purchasing a new home, there are some steps you can take now to ensure your credit report will allow you to finance the home of your dreams. You will want to order your credit report ahead of time so you can dispute any possible inaccuracies before moving forward. Inaccuracies can range from a simple clerical error to a computer glitch in which your file is mixed with that of someone with a similar name. Correcting this information is your first priority.

Next, make a list of any loans you have already paid in full and check to make sure that this positive credit information is on your report. If it isn't, call the creditor and ask them to report it to one or more of the major credit bureaus. Also, close your unused credit card accounts, and make sure your creditor reports the account 'closed at consumer's request.' A lender will often view too much revolving credit as a negative, assuming that it may lead to potential debt that might make it difficult for you to make your mortgage payments.

You should also postpone making large purchases on your credit card or taking out an auto loan while you're home shopping. Your goal is to make your credit use look steady and predictable. When you have completed these steps, wait about 30 days before ordering copies of your credit report again to verify that all new information has been added and all inaccuracies have been straightened out.

Do you need to speak to a lender - call us we can help recommend several local lenders in the Metro Phoenix area.

623-435-0447