Unlock the Door to Your New Home Using This Key: Rent Reporting
William Thompson
Experienced Sales Leader | Real Estate & Financial Services Expert | Driving Revenues & Team Development
Hello Neighbor,
As your real estate advisor, I understand the importance of a good credit score for getting approved for a mortgage or rental property. I want to make sure you have all the information you need to navigate the home buying process with ease. If you're struggling to establish credit history or improve your credit score, don't worry. I'm here to help!
Rent reporting is an increasingly popular way for renters to boost their credit scores. By reporting your monthly rent payments to credit bureaus, you can establish a positive credit history and improve your credit score over time. In fact, a study by TransUnion found that including rental payment data in credit reports can increase the credit scores of nearly 35 million renters.
To get started with rent reporting, research reputable companies that report to all three credit bureaus. Some charge a monthly fee or require a long-term contract, so be sure to choose a service that works for you.
But rent reporting isn't the only way to improve your credit score. Making all of your payments on time is crucial, as payment history is the largest factor in determining your credit score. Additionally, keeping your credit utilization low – using no more than 30% of your available credit – can also help.
If you're looking to purchase a home this year, taking steps to improve your credit score is essential. Along with rent reporting and good credit habits, consider consulting with me, you trusted real estate advisor to discuss your options and to connect you with a mortgage professional.
Don't let a lack of credit history hold you back from your dream home. Start building your credit today with rent reporting and good credit habits, and take the first step towards homeownership. DM me today!
William Thompson
领英推荐
NC Real Estate Advisor | REALTOR?,?Better Homes and Gardens Real Estate | Paracle
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