Blog
Wednesday
27
NOVEMBER
2013
Tips for First Time Homebuyers on How to Establish a Credit History
In order to purchase a home, you must have an established credit history. Each time you pay a bill (for your credit card or for a monthly service such as your telephone or electricity), you are establishing a credit rating for yourself. A credit rating is a number or score that banks, mortgage companies, and other lending businesses use to assess your level of financial responsibility.
Paying your bills on time every month, contributes to having a good credit rating. If you miss payments, or are often late making your payments, your credit rating is probably...