Fairfax County VA Home Search Website Blog

To get the best deal on a mortgage for Alexandria VA homes for sale, you want the highest possible credit score.  If you don’t know your credit score, you may want to request a credit report or talk with a financial advisor or mortgage lender.

If your credit score needs improvement before you buy Alexandria VA real estate, here are some tips to help:

• Payment History. This is the greatest factor in determining your credit score. The longer you have a history of making your payments on time and not missing payments, the higher your credit score. Paying your bills shows that you are responsible with your debt.
• Amount Owed. One-third of your credit score is based on the amount of debt you owe in relation to the amount of credit available to you. Paying down the amount you owe on your credit cards lowers your credit risk and raises your score.
• Length of Credit History. The longer you’ve had your credit accounts open, the better your score. A lengthy history of credit shows whether or not you’ve been able to manage your credit.
• New Credit. Although this accounts for just 10 percent of your credit score, opening several new accounts within a short time can lower your credit score. If you’ve had credit problems in the past, new credit accounts can help raise your score.
• Credit in Use. Banks do look at the mix of credit in your report. Generally, a mixture of accounts like installment (car payments), revolving (credit cards), and mortgages looks better than having only one type of credit.

If you’re thinking of buying one of the Alexandria VA homes for sale, I would love to assist you. Give me a call and I’ll help you find a qualified lender who will help you get pre-approved for your mortgage loan.  Call me at 703-909-3939 or email Steve@HomeSearchWebsite.com now.  
 
Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939