Qualifying for a mortgage if you have a poor credit history is not always easy. Many people that have faced financial difficulty in the past are forced to accept higher interest mortgages in an effort to get into a home. If you’re in the process of shopping for a home or qualifying for a new mortgage, it’s often an excellent time to start repairing your credit history so that you can qualify for a lower rate. Lenders will always view your credit score when it comes to choosing the risk level on a mortgage that’s for you. Here are some of the top ways that a credit repair service can help you to repair your credit to qualify for a better mortgage rate.
Improving Your History With Payments
A credit repair service will take a look at your current payment history with the main creditors that you owe. Your payment history makes up for one of the largest percentages of your credit score. If there are errors in reporting or you’ve got a poor history of paying on time, working with a credit repair company to establish a better history for your payments can help you have a plan for paying your creditors and building your credit over time.
Fixing Credit Reports on Each Agency
Three main agencies are responsible for reporting your credit history. Making sure that your payment history and your information is updated across every agency is important. By working with a credit repair agency you will be able to keep each reporting company up to date and remove discrepancies from each credit report.
A credit repair agency will be able to help you with rapid rescoring. After you fix a series of errors on your credit report, you can restore your credit and have almost immediate results with your credit score. If you have documentation that you paid on time or to refute various items, this can be a huge help in seeing positive gains.
These are just a few of the top ways that you can improve your credit score and qualify for a better mortgage rate fast with a credit repair agency.
This post was written by Kristian D’An, owner of Lux Credit LLC and CCA board certified credit repair specialist. Lux Credit offers credit repair services for those looking to improve their credit!