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Want to Buy a Home in Eden Prairie? Here’s How to Get Credit Ready

Ryan Platzke

One of the biggest hurdles to buying a home is getting your financial foundation in the right place. With that in mind, we’ve assembled a few ways you can double down on your credit ranking and get the most out of your mortgage when you finally decide to take the leap and buy a home in the Twin Cities region this year. Take a look below at a few practical ways to get smart with your money in preparation for homeownership.

 

  1. Dive in on Your Debt Payments
    The first step to boosting your credit score is to pay off any outstanding bills. You can improve your score tremendously by clearing balances. Don’t just pay the minimum or you’ll plateau. Instead, make a snowballed effort to control your debt and get back to zero and you’ll enjoy a boon to your score—putting you in a far better position as a borrower.

 

  1. Make Sure Your Score is a True Reflection

There are plenty of websites online where you can access a free credit report without dinging your score. It’s wise to check in and review line items so that you can ensure no missed debts or down-graded points were employed in error. If you do uncover a mistake on your report, make quick work of resolving it with the business in question or by contacting the Federal Trade Commission.

 

  1. Be Timely
    Penalties from late bills can really add up and affect your credit score. Even marginal payments that are overdue or left to go to collections can show up on credit reports and impact your borrowing power. Try setting up automatic payments so you never miss a date, or set an e-calendar reminder so that you don’t lose sight of payment deadlines. By simply correcting bad habits like these, you can greatly improve your credit score.

 

  1. Tighten the Belt

If you’re serious about buying a home in the Eden Prairie or Minneapolis area this year, then skip big purchases and investments that will draw resources away from your down payment or your ability to pay off existing debts. Maybe you skip an extra vacation or cut back on your dining out—however you choose to save, remember it goes toward the American Dream of homeownership and is always worth it in the long run.

 

If you’re not sure where to begin when it comes to readying yourself for homeownership, give us a call and learn more about your real estate positioning. With the help of a trusted, experience real estate advisor, you can make the move that’s right for you.

At HelgesonPlatzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

 

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