As you know, the very first thing lenders look at is a borrower’s credit. Everyone knows how important their credit is when it comes to buying a house or a car and yet some people still don’t take enough care to make certain their credit is as good as it needs to be. They miss a few credit card or car payments and they think, “No big deal. I’ll just make two payments next month to catch up.” They carry high balances on too many credit cards, max several out and even go over some limits. What’s the big deal…right?

These people will eventually discover one way or another that it certainly is a big deal. These days your credit affects every aspect of your life. Your credit determines:

1. Whether or not you get approved for a loan.
2. Whether or not you get a good interest rate.
3. How much closing costs will be.

Your credit isn’t just used for loans and lines of credit. For example, it is also checked when you:

1. Buy insurance.
2. Apply for a job.
3. Buy a cell phone.
4. Rent an apartment.

Credit scores range from 300 to 850. Since the housing meltdown in 2007, lenders have tightened credit requirements more and more. You now need a credit score of at least 600 to be qualified to buy a home. During the height of the housing market, you only needed a score of 500 and didn’t need to prove your income, assets or even employment. Look where that got us….

So it is definitely a good idea to be mindful of your credit for many reasons, not just because you are thinking of buying a house. But aside from not missing payments, most people have no idea what affects their credit scores. Be sure to get your free Credit Repair Manual from Homeland Lending (located at the top left corner of this page) and learn everything you need to know to tune up your score. The higher your score, the more money you will save. It’s as simple as that. So what are you waiting for? Register now and get your free report!