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Whether you’re planning to buy or rent, your credit profile can impact whether or not you’re able to get the home of your dreams.

Improving Your Credit to Buy a House

Before you apply for a mortgage loan, make sure your credit history is in order by thinking about the following factors:

  • Credit Obligations: Make sure you’re current on all of your accounts (credit cards, loans, etc.)
  • Credit Utilization Ratio: Using too much credit may negatively impact your score.
  • Credit History: A long history of on-time payments is ideal.
  • Account Types: A diverse mix of accounts (such as credit cards, student loans, an auto loan, etc.) shows that you manage a variety of credit obligations.
  • Debt-to-Income Ratio (DTI): While your income is not part of your credit report, many lenders will ask for income information to make a more informed decision.

Are rent to own loans good for my credit?

August 1, 2016

Dear Readers, People often ask if rent-to-own loans help build a credit history. Unfortunately, the answer is no, because such loans are not currently reported to the credit reporting...

How to Obtain a RentBureau Report

January 3, 2016

Dear Experian, How do I get a free consumer report from Experian RentBureau? My landlord has found incorrect information on the service he uses. - TNY

Previous Mortgage Still Appearing on Credit Report

December 19, 2015

Dear Experian, We refinanced our home with a different lender and my credit report is showing I have two mortgages. How long will it take for the lender that was...

The Effect of Delinquencies During a Short Sale

April 24, 2015

Dear Experian, Will it have more of an impact on my credit report if I stop making my mortgage payments and become 90 days or more delinquent during a short...

Mortgage Modification Programs and Your Credit Score

January 31, 2015

Dear Experian, I am beginning a government-sponsored HAMP mortgage modification program. My lowered first three trial mortgage payments will be reported as "partial payments.” After the trial period they will...

Experian Credit Report Does Not Include Eviction

January 23, 2015

Dear Experian, An eviction is showing on my credit report, per the leasing company I submitted an application to. I have never received paperwork for an eviction, but when I...

Quitclaim Deed Does Not Override Contractual Obligation

January 9, 2015

Dear Experian, I recently had my credit checked for a preapproval on a new home purchase and found that my credit scores and my wife's had dropped from the high-700s...

Broken Lease Appears on Tenant Screening Report

October 24, 2014

Dear Experian, My daughter’s report is showing she had a broken lease in November 2013. However, she just moved out in July. How can she correct this? - ...

Update Your Credit Report to Show Home Ownership

October 15, 2014

Dear Experian, I am the owner of a house with a paid mortgage, which I am renting to family. How will this affect my credit scores, and how can...

Credit Reports Show Mortgage Loans not Home Ownership

August 27, 2014

Dear Experian, I bought a home a few months ago. How do I update my status to homeowner? - TFW

“Statement of Dispute” Delaying Mortgage Refinance

July 17, 2014

Dear Experian, We are refinancing our house. There was an account on my husband’s credit report that he had disputed at the time it was reported. It is still showing...

Late Payments During Mortgage Modification

May 29, 2014

Dear Experian, I have never been late with mortgage except the two months I was working on a mortgage modification with my mortgage company. I was told not to pay...

When Are Short Sales Deleted from Credit Report

February 5, 2014

Dear Experian, How long is a short sale on your credit report? We did a short sale in December 2010, and it is still on our credit report. - SPG

Missing Payments Will Worsen Impact of Mortgage Short Sale

January 15, 2014

Dear Experian, How will it affect my credit score if I short sell my house without missing any mortgage payments versus missing payments prior to the sale? - BSB

Cosigning for an Apartment Lease Could Hurt Your Credit

January 1, 2014

Dear Experian, I would like to better understand how co-signing for apartment leases affects credit. - IAB

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Are rent to own loans good for my credit?

Dear Readers, People often ask if rent-to-own loans help build a credit history. Unfortunately, the answer is no, because such loans are not currently reported to the credit reporting...