Credit Health and Mortgages: What to Know Before You Apply

💳 Credit Matters More Than You Think

When preparing to buy a home in North or South Carolina, your credit score becomes more than just a number — it’s a key part of your financial identity. While it’s not the only factor in qualifying for a mortgage, your credit score can heavily influence:

• What loan products you qualify for

• What interest rates you’re offered

• How much documentation you’ll need

The good news? No matter where you’re starting from, there are steps you can take right now to improve your credit health.

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📋 Start With Your Credit Report

Begin by checking your credit reports from all three major bureaus:

• Experian

• Equifax

• TransUnion

You’re entitled to one free report per year from each at AnnualCreditReport.com.

🛠️ What to look for:

• Errors or duplicate accounts

• Outdated or paid-off balances still showing

• Accounts that don’t belong to you

Disputing inaccuracies early can boost your score quickly — especially before applying for a mortgage.

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📈 Practical Ways to Improve Your Score

Want to strengthen your credit before applying for a loan? Focus on these key actions:

✅ Pay all bills on time

• Payment history makes up 35% of your FICO score

• Bring any past-due accounts current ASAP

✅ Reduce credit card balances

• Keep your credit utilization below 30%

• The lower your balances, the better

✅ Avoid new credit applications

• Don’t open new cards or finance large purchases before applying

• Multiple credit inquiries can temporarily lower your score

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🧠 You Don’t Need Perfect Credit

A perfect score isn’t necessary — but better credit equals better options.

Even if you’ve had challenges in the past:

• Old negatives carry less weight over time

• Recent on-time payments help build momentum

• FHA and VA loans offer flexible credit requirements

Lenders evaluate the full picture: credit, income, DTI, employment, and savings — not just your score.

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🧭 Get Professional Guidance

Working with a mortgage expert early can save you time and money. We can:

• Review your credit report with you

• Identify actionable improvements

• Help you plan a clear path to pre-approval

Sometimes, small adjustments — like updating a credit limit or correcting a misreported late payment — can make a big impact.

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🔑 Take the First Step

Strengthening your credit today sets you up for better mortgage terms tomorrow. Whether you’re ready to buy now or just starting to prepare, we’re here to help.

📞 Call us: 843-640-1820
🔗 Start your application or get credit guidance now