In the market for a new home? Let’s explore a few tips that will help you get a jump on improving your credit score before the end of the year.
Grab A Fresh Copy of CIBIL Score
The first step is to order a fresh copy of your credit/CIBIL report from www.cibil.com.
Note that it’s not recommended to use a search engine to search for “free credit report” or similar search terms. There are many impostor websites looking to obtain your personal financial information for nefarious purposes. Instead, stick with the government-recommended website listed above.
Clean Up Anything Outstanding
Now that you have a copy of your credit report, it’s time to go through it, line-by-line. You should recognize every current and outstanding account in the report. Any balances owing should be in order and reflect how much you owe. It’s critical that you flag any mistakes or old debts that you have already paid in full. If you come across anything that shouldn’t be on your credit report, call the reporting agency to let them know. If necessary, they will assist you with challenging the issue.
Pay Down Those High-Interest Debts
The final tip in today’s guide is to prioritize your outstanding debts so that you can pay them off more efficiently. The essential debt payments are your mandatory minimums, which you need to pay to avoid being sent to a collection agency. From there, try to pay off your debts with the highest interest rates first. Getting these paid off faster means that over time, you’re spending less on interest payments. Moreover, you can use that extra cash to pay your debts down further.
The above are just a few of the action steps that you can take today to start improving your credit score. When you’re ready to discuss a mortgage for your new home, give our team a call. We will be happy to advise you on the mortgage offer that suits your needs, budget and credit.
If you have any questions on green properties, please visit winwin-properties.com.Our professional team can assist you along the entire buying/selling/renting process. Please complete the contact form on winwin-properties.com to schedule a free initial consultation meeting to see if we are the right fit for you. If you are an NRI, please visit our website NRI-Property.com, designed specifically to meet the needs of NRI clients.