![]() ![]() "Lenders will be more likely to approve your application with a good credit score, which makes you a more competitive buyer," he says.Īnd if I decide to continue renting, he says that landlords often review credit scores to qualify renters. Not only that, but since properties I've been interested in have already received multiple offers, Marcinko says that having a high credit score could come in handy in the new year when I begin looking again. Since interest rates have climbed to the highest levels in over a decade, getting any reduction in your rate can save you potentially thousands of dollars over the life of the mortgage," he says. "With a high credit score, lenders are more willing to give you a better deal on mortgage rates. ![]() Marcinko says that with my high credit score, I might be eligible for a lower mortgage rate. Rent prices are skyrocketing in my area right now, and my partner and I have considered buying a home. Be a competitive buyer if I decide to purchase a home I decided to ask certified financial planner Patrick Marcinko for ideas for how I could leverage my high credit score to help with future financial goals. I attribute that to on-time credit card payments and making an effort to lower my credit utilization. When I was reviewing my bank statements and looking over my portfolio, I noticed that my credit score was the highest it's ever been.Īfter years of being in what is considered the "good range" of 670-739, I've made it to the "very good" of 740-799. I'm eager to spot mistakes that I've made throughout 2023, and I want to find opportunities that I can leverage at the start of the new year. One of my biggest year-end goals is to do an audit of my finances. ![]()
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