Preparing Your Credit for Home Buying

1. PREPARINGYOUR
CREDIT FOR HOME
BUYING
Think Credit Reports

2. PreparingYour Credit for Home Buying
• Think Credit Reports provides an important service for individuals who are
interested in monitoring their borrower profile. By providing reports and scores
from all three credit bureaus,Think Credit Reports makes staying aware of one’s
current borrowing situation easy.This is particularly important when preparing to
make a major purchase such as a home. In the period of time leading up to
applying for financing, there are a number of things consumers can do to help
raise their scores.

3. PreparingYour Credit for Home Buying
• It is generally recommended to keep old credit lines open, because closing them
can cause a reduction in your score. If you have many different cards that you do
not use often, for example, consider using each of them occasionally to make
small purchases and then paying off their balances in full.

4. PreparingYour Credit for Home Buying
• Be sure to avoid applying for new cards or loans in the six months prior to applying
for a mortgage.The three bureaus view these events as risk factors since they are
not sure how you will handle your recent borrowing limit increase. Additionally,
monitor your borrowing profile closely, and be sure to take steps to resolve any
inaccuracies you notice right away.