Six Lakes Realty

Credit Score Tips for Chetek Home Buyers!

If you’re planning to buy a Chetek home in the near future, you’ll want your credit score to be in the best possible shape! The stronger your credit, the more attractive your mortgage offers!

Our prior blog post talked about credit reports, which show your credit history and personal identifying information. Your actual credit score is a separate collection of detail and a separate report, though your credit history certainly affects it.

Credit scores are also known as “FICO” scores. FICO is named after the Fair Isaac Corporation, which is the company that created this scoring model. The higher your FICO score, the better your credit standing!  

What constitutes a “good” credit score can vary, but here’s a basic reference:

  • 350 to 579: very poor 
  • 580 to 669: fair
  • 670 to 739: good
  • 740 to 799: very good
  • 800 to 850: exceptional

Your credit score can be improved in several ways:

1. Pay all of your debts on time.

2. Keep your outstanding debt balances low. If your credit card balances are near the limit of your available credit, this can depress your score – even if you make your payments on time.

3. Do not apply for more credit than you need. Opening several new credit cards in a short period of time can hurt your score.

4. Do not close old accounts, even if you have no plans to use them. Old accounts in good standing help your score.

5. Having a mix of credit shows you can handle various types of obligations. For example, having a student loan, or a car payment, and a credit card or two, might look better than having 5 credit cards.

You can get your credit score, and more credit tips, by visiting!

When you have questions about home buying, Six Lakes Realty is here to help you! As a locally-owned family business, we provide hometown, personalized service, backed by over 40 years of real estate expertise. Call us today!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806

Search Homes in Chetek

Like Us on Facebook

Follow Us on Twitter

Contact Us