Skip to main content

 

Credit scores take a long time to increase, but it’s worth taking some steps to increase yours, especially if you’re in the process of buying a home. A mortgage will eventually build your credit, but it may make your credit score drop at first since your lender will have to run a credit check. Follow these steps to keep your credit score up during the process.

 

 

Make Payments on Time

 

Your payment history accounts for the largest portion of your credit score: about 35%. So it’s crucial to get caught up on any late payments and make all future payments on time. Most companies have an option to auto-pay your bills or set up payment reminders, so take advantage of those to stay on top of it. A money management tool like Mint can also help.

 

 

 

Avoid Applying for New Credit You Don’t Need

 

Opening new accounts will lower your average account age, which can hurt your length of credit history. Plus each time you apply for a new line of credit, it can make a small decrease in your credit score. If you need to get a new credit account (like a car loan), be sure to complete your loan applications within a short period of time so it doesn’t look like you’re trying to open several new lines of credit.

 

However, if you don’t have any credit cards — or any credit accounts at all — you should definitely open an account to establish a credit history. Certain lenders are better able to work with people with no credit, so be sure to ask your real estate agent what they recommend.

 

 

Pay Down Credit Cards

 

 

When you pay off your credit cards, you lower what you owe, thus lowering your credit utilization ratio (the ratio of your account balances to your credit limits). Some people recommend starting with your highest-interest debt and paying that off first, but others say paying off your lowest balance first is the way to go. Then you can roll that payment into your next-lowest balance to create momentum.

 

Make a list of all your credit card balances and tackle them one by one. Make the minimum payment on all of your cards except one — pay as much as possible on that card until it’s fully paid off, then cross it off your list and move on to the next card.

 

 

Avoid Closing Old Accounts

 

Unfortunately closing an old account won’t remove it from your credit report. In fact, it can even hurt your credit score, as it can raise your credit utilization ratio. You’ll have less available credit, and your average length of credit history will drop.

 

Paying off a collection account won’t remove it from your report either. This will stay on your credit report for seven years, but the impact it has on your credit score will decrease over time.

 

 

Correct Errors on Your Report

 

Mistakes and fraudulent activity can hurt your credit score, so it’s a good idea to check your credit report at least once a year. The FTC has a good overview of how to dispute errors on your credit report.

 

 

It takes time and work to raise your credit score, but it’s well worth it. It’ll help you qualify for a mortgage and secure a lower interest rate on car loans and credit cards too. You might even qualify for lower rates on insurance premiums.

 

I’m happy to talk through your current credit situation and how it might play into buying a home in Mammoth Lakes. Contact me to get started.

 

——–

 

If you liked this post, you might also like:

 

 

 

Follow Along on Instagram

Time isn’t always on your side, especially if you’re trying to time the real estate market.

Some homeowners postponed selling while they waited for prices to hit their peak. Here’s why you shouldn’t wait any longer:

💲The market is unpredictable — even experts can’t guarantee what it will do next!
☑️ You could pay more to buy your next home the longer you delay.
🤝 It’s still a great time to sell, but rising mortgage rates are beginning to slow down demand.

You can’t control the real estate market — but you can control when you put your home up for sale 🏡

Contact us to start a conversation about the right time to make your move.

#realestatetips #realestate #houseforsale #greatvalue #newlisting #mammothrealestate #mammothcondos #mammothcabins #sonjasellsmammoth #mammothmarkettrends #timingthemarket #destinationmammoth
...

2 0

BIG bright windows are the main attraction in this spacious 2 bed/2 bath condo in St. Anton. This complex is next door to Canyon Lodge – one of the shortest walks of any Mammoth location! Come see this condo today and get ready for the best winter season of your life!

Link: https://www.destinationmammoth.com/featured-listings/mlbor/mls-220688-895_canyon_blvd__2334_mammoth_lakes_ca_93546/

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

0 0

If you're renting but plan on buying a house in the near, don't renew your lease without going month-to-month or making sure you can cancel it by giving your landlord a month or two notice.

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #realestatetips #realestatetipsandtricks
...

2 0

Thursday, September 29
9 AM - 11 AM

Stop by and tour 3 amazing Mammoth Lakes Properties tomorrow!!!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

5 0

Beautiful sunset tonight.

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

17 1

Sonja was very knowledgeable and competent in selling our house in Mammoth. She is very personable and answered all of our numerous questions with courtesy, humor, and patience. Despite a greatly slowed real estate market, she sold our house in a reasonable time frame. - Stuart F.

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #testimonials
...

9 0

#nofilter Sunday evening neighborhood stroll. ❤️reflections, water, blue skies and fluffy clouds ☁️ #lovewherewelive ...

12 2

If you have a light fixture you want to keep and take with you to your next home, take it down and replace it before you put your house on the market. You can also leave it up and "exclude" it from the sale within your listing, but it can cause issues if a buyer sees it and wants it. Avoid problems by removing it ahead of time.

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #realestatetips #realestatetipsandtricks
...

4 0

Beautiful day at the village. I love the clouds and like to look for shapes or object -- what do you see?

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

8 0

Amazing two-bedroom condo next door to Canyon Lodge! Ski all season long in this cozy mountain home!

Properties Link Below:
https://www.destinationmammoth.com/properties/

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

4 0

Hope everyone is having an amazing time at the Mammoth Trail Fest! If you haven't already make sure to check out this awesome event the rest of the weekend!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

8 0

Beautifully updated two-bedroom slope side condo just listed for sale. Check it out!

Link in Bio...

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

5 0

What does “Months of Supply” tell us about the market?

To break it down simply:

📊Balanced Market = 6 to 7 months of supply
There are a relatively even number of buyers and sellers.

📈Seller’s Market = Fewer than 6 months of supply
There are more buyers than homes for sale, thus sellers hold the upper hand.

📉 Buyer’s Market = More than 7 months of supply
There are more homes for sale than willing and able buyers, thus buyers have more negotiating power.

Have a question about current market trends? Reach out at any time! We’re here to help you decode the lingo and make the most of today’s market 👨‍💻

#homeownership #sellersmarket #buyersmarket #buyingahome #sellingahome #housingmarket #realestate #realestateagent #mammothrealestate #sonjasellsmammoth #destinationmammoth #mammothcondos #mammothcabins #mammothmarkettrends
...

0 0

SNEAK PEAK! This two-bedroom condo next door to Canyon Lodge will be listed for sale in the next 24 hours!

Check out an early video tour now on our YouTube!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

7 0

I love working with awesome realtors like Heidi Vetter! How thoughtful is this?!” @vetter_heidi ...

8 0

If your agent isn't available, don't call a random agent to show you a house you're interested in seeing if you plan on having your agent write an offer if you like the house. Agents don't get paid for simply showing houses, so it's inconsiderate to ask an agent to show you a house they have no chance of selling to you.

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #realestatetips #realestatetipsandtricks
...

0 0

The Mountain & Adventure Film Festival is entering its 9th year, this 3 day, free festival celebrates the best adventure films and athletes of the year. Films are shared nightly, outdoors, in the Mammoth Mountaineering Supply parking lot. Runs Thursday September 22nd - the 24th!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

9 0

What is your favorite season in Mammoth Lakes? #destinationmammoth #visitmammoth ...

3 1

Let’s Talk

You’ve got questions and we can’t wait to answer them.

We use cookies and tracking technology in connection with your activities on our website. By viewing and using our website, you consent to our use of cookies and tracking technology in accordance with our Privacy Policy.