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Buying a home is a big deal and everyone deserves to get the best interest rate possible. One of a few factors in determining what your interest rate will be, is your credit score. The best thing anyone can do for themselves is to have their credit score as high as possible, the higher by 700 the better. One easy trick that will spike your credit score during your mortgage application process is to stop using your credit cards. One of the factors in determining your credit score is how much of your credit line you have used. A general rule of thumb is not to exceed 25-30% of the credit line, and preferably to stay lower than that. About 45-60 days prior the beginning of your mortgage application process, whether you stop using

your credit card, you will spike your credit score just in moment for your mortgage credit check. that is assuming that your credit cards are paid down to start with. By increasing your credit score and getting a better interest rate on a mortgage you can potentially save thousands and thousands of dollars by the life of the mortgage. Why not take advantage of an easy trick? To recap:

1) Pay down credit cards at least 60 days prior to mortgage application process
2) Stop using your credit cards 45-60 days prior to mortgage application process

And remember, when applying for any loan, it is fine to shop around, but keep it within a 30 day window so your credit score doesn’t getting “dinged” multiple times.

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