Do you have good enough credit to buy a home?
I have been busy working with renters this year. Often times people are confused about credit, what it is exactly, how low is too low for a loan to be considered and how they can improve their credit.
Unless we are making a purchase such as that of buying a home, we don't seem to pay attention to our credit. It is important to keep current on your credit for many reasons. Did you know an employer may check your FICO score? Sometimes we can find out that there is 'stuff' on our very own credit report that does not belong there. Don't worry, this can be corrected. The only way we know about them is from checking our score. The three major credit bureaus are Transunion, Experian and Equifax. Your score will show the risk level of your paying back a loan on time. The higher your score, the less risk factor. It is SO important to build good credit. It is our power to acquiring things we may desire such as a new car or more importantly owning our own home.
Rather than elaborate on this complex but important subject I feel it's important to check out CREDIT101 and pass it along to anyone you know who would like to learn more about credit.