Checking your credit ahead of finding a new home can help you anticipate and fill any deficiencies in your credit rating, which landlords and home sellers use to assess the financial risk you present. An Experian Credit Score takes into account many different factors to analyze how likely you are to pay your rent, mortgage or loan payments. Check your score regularly, and try to improve it by paying bills on time and paying back what you owe prior to looking for a new home.
- Your credit score allows lenders to get information on your income, how much to lend out, and if there are defaults associated with your name.
- To improve your score avoid late payments and make sure future payments are on time.
- If interested in looking at your credit score, Experian Credit Score offers a free service to help you understand your credit score and what to do to make it better.
“Buying or renting a new house can be stressful enough without nasty surprises such as a poor credit rating slowing things down, especially when it may be easy to improve if you know about it in advance.”