If you're looking to buy a new home, one of the first things to do is to make sure that you have your credit score under control. Your credit score (or FICO) can mean a great loan, a high-interest loan, or no loan at all!

Money has a great article on 6 Ways to Kill Your Credit Score, with great tips on what your FICO score means as ways to maximize that score. Some tips include:

• Don't do anything with your credit for 60 days prior to applying for a loan. And of course don't do anything with your credit during the actual loan process either! This means no new charges, and no new credit (credit cards or other loans).
• Keep your balance to 30% of your credit limit (or less) for each credit card.
• Make payments on time! Send in at least the minimum payment by the due date. Better yet, pay off the entire balance as soon as the statement arrives.
• Don't close unused accounts, even if you've paid them off or transferred the debt elsewhere.
• Check your credit report regularly to make sure there are no errors, and correct any errors that do appear.
• Don't hide debt from your spouse! It will show up when your lender pulls your credit anyways.

Linda Slocum

HoneyStartPacking.com

SantaClaritaRealEstateBlog.com