How To Build Credit So You Can Buy A House
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- Опубліковано 10 сер 2019
- Credit can be daunting to figure out, especially when you want to buy a house. Whether you have good credit or credit that needs some TLC, this video will help you set up a good game plan to raise and maintain your score.
In this video:
00:31 The biggest problem with credit
01:16 What is the target credit score you should aim for
01:33 Minimum credit score needed to qualify
01:48 Why FICO 640 will most likely get you a better deal
02:15 Difference between a soft pull and a hard pull
3:33 What is credit
4:38 Do you need credit to buy a house?
4:49 Manual underwriting
5:35 How to get credit if you don't have any
7:57 Bad credit and how to correct it
8:06 3 rules to build and maintain credit
8:29 Why paying on time is so important
10:53 How ratios affect your score
12:42 How to manage your accounts
13:46 Why you shouldn't close accounts
16:02 Recap of the 3 rules to build credit
How do I get and keep a good credit score? www.consumerfinance.gov/ask-c...
How do I dispute an error on my credit report? www.consumerfinance.gov/ask-c...
Hey, my name is Kyle and I'm a Mortgage Advisor serving Ohio and Tennessee. My goal is to help you get a crystal-clear home loan that helps you win the house you love.
Start your pre-approval at kyleseagraves.com
Kyle Seagraves
Mortgage Advisor
www.winthehouseyoulove.com/
www.winthehouseyoulove.com/
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I believe you single handedly done more for black people and home ownership knowledge than most people who have lived. Thank you. For you time we all every race really appreciate you.
Some great advice that is important to know. There are some subtle nuances that can make your credit score fluctuate dramatically! You mentioned that late payments are the worst, and they are for the most part, but utilization can hit just as bad. I have a very respectful credit score, but when I went on disability for 2 months, I had to use a higher amount of my available credit and I was shocked how my score dropped by 60 points just because I used more of my available credit!
Thank you for taking the time to post all of your videos! Very informative
I have watched a few of your videos. I hope to buy my first home next year. You explain things so well. I now have a clear plan. Thank you! :)
I plan to improve my credit this year so I can buy a house next year.
I used a credit repair company years ago, my credit was in very bad shape because I knew nothing about credit and I had all kinds of errors and missed payments etc. the company got at least 20 items deleted maybe more. BUT I see that they would purposely not dispute certain items so that they could keep billing me. So yes these companies will try to screw you but honestly I couldn’t have done it by myself at the time. Now I’m repairing on my own and making some progress but it’s taking a little longer but it’s free. So yes some companies actually help but yes you can do it on your own.
These explanations are really helpful and informative. I hope I knew all these when I got my first credit card.
Your videos are amazing man. Thank you !
I’m not only impressed with the way you communicate info but I’m obsessed with your voice. Thanks for the info. It’s coming in handy. ❤️
Well SAID!! Thank you!
Great content! The only suggestion I would make would be on the last line on keeping a dollar on old accounts. You can pay off your card after the statement date and still get “credit” for having an open account.
Thanks a lot!
Im hovering around 630ish right now and hoping to get to a 640+ by next April when Im ready to purchase!
Thanks for the information.
Great video!!
Thank you so much
Thank you🤗 I am determined to buy a home in 2022!😁
So helpful
Man, nice money plant!!!
Hi and thanks for getting back to me. I have another question does having a car loan prevent you from getting a mortgage loan?