According to a national survey, many future home buyers do not feel confident about their current credit score status. In fact, 34% of future buyers said their credit score might hurt their ability to purchase a home, and 45% have delayed a purchase to improve their credit score.
Many are taking action now to improve their credit. Almost 70% of respondents are paying bills on time, and 60% are working to pay down debt. Additionally, 28% of future homebuyers surveyed are keeping balances low on credit cards, while 15% are taking steps to protect their credit information from identity theft and fraud.
Consumers planning to purchase a home should check their credit score now to allow enough time to ensure that the changes they make will be reflected in their score before they meet with a lender.
