Hillsboro Office 217-532-2525 | Litchfield Office 217-324-4663

Central IL Homes for SaleCentral IL Homes for Sale

  • Home
  • Search
    • Advanced Search
    • Hot Property Alerts
    • Map Search
    • Upcoming Auctions
    • Address Search
    • Trending Searches
    • My Account
  • Featured
    • Our Featured Properties
    • Our Featured Auctions
    • Open Houses
    • Virtual Tours
    • Current Solds
    • Schools
  • Areas
    • Hillsboro
    • Litchfield
    • Coffeen
    • Witt
    • Nokomis
    • Taylor Springs
    • Irving
    • Panama
    • Donnellson
    • Raymond
    • See All
  • Buy
    • Mortgage Calculator
    • Home Buyer Checklist
    • Local Links
    • Resources
  • Sell
    • What’s Your Home Worth?
    • Selling your Home at Auction
    • Seller Tips and Tools
    • Marketing Your Home
  • Rent
    • View all Rentals
    • Landlord List
  • Auctions
    • Upcoming Auctions
    • Selling your Home at Auction
    • Find out More!
  • Appraisals
  • Contact
    • Contact
    • Agents
    • Client Reviews
    • Blog

Improve Your Credit Score To Get Better Mortgage Rates

Credit score FICO improvementFor home buyers in Montgomery County and nationwide, credit scores can change low mortgage rates and alter home loan approvals.

Borrowers with high credit scores get access to lower mortgage rates, for example, and can find the mortgage approval process to be more smooth that borrowers with low credit scores.

If your credit score is low, here are some basic ways to help improve it. 

Get The Reports
Download an updated version of your credit report from each of the three major reporting bureaus — Equifax, Experian and TransUnion. The reports may mirror each other, but credit accounts — especially derogatory ones — sometimes don’t appear on all three. Ordering reports from all three bureaus is a safety step. Note that the credit bureaus each use different scoring models so your credit scores will vary.

Check For Errors
Yes, credit reports can have errors in them. Should you find any items on any of the three credit reports which, in your opinion, do not belong or are erroneous, contact the credit bureau regarding removal. Errors on a credit report must be addressed with each bureau individually. 

Pay Up 
Or, rather, pay down. Be diligent about paying down your credit card balances in order to lower the percentage of your credit line(s) in use. In general, aim for a 30% ratio or less. An added benefit of paying down debt is that it can lower your total monthly debt load, which can increase your maximum home purchase price.

For items which are harming your score, such as a 30-day or 60-day mortgage late payments, medical collection items, and/or judgments, consider writing a brief letter which explains the circumstance of the derogatory credit event. Such a letter won’t help your score to improve, but it can help your lender to make better credit decisions, which can aid in “exceptions”, if required.

Making even minor changes to an overall credit profile can yield measurable long-term results. It can also result in lower mortgage rates.

Posted in: Blog Tagged: Credit Scores, FICO, TransUnion

Search Smarter

Did you know the hottest homes for sale in Hillsboro often sell within days of being listed? Don’t miss out! Set up your own custom property alert so you can be notified of the newest homes as they hit the market! Simply click the button below and choose the qualities that you want most in a home and save your search to start getting alerts today!

New Property Alerts

As local Hillsboro Real Estate Agents we also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact us at your convenience. There is no obligation and or pressure… we hope to hear from you!

Post navigation

« Selling? Improve The Appearance Of Your Home’s Bathrooms.
Homebuilder Confidence Nearly Triples In 2 Years »

Contact Us Now



(217) 532-2525 Hillsboro Office
(217) 324-4663 Litchfield Office

info@mcrealty.net
Hillsboro Office

551 S. Main St.
Hillsboro, IL 62049

Litchfield Office

410 N Monroe St.,
Suite 100
Litchfield, IL 62056

Hillsboro Company License #478.025162
Litchfield Company License #477.012410

Follow Us Now!


Quick Search Tools

  • Easy Search
  • Advanced Search
  • Address Search
  • Upcoming Auctions
  • Home Valuation
  • Map Search
  • My Account
  • Listing ID Search
  • Contact

Chat with us Now!

Click here to visit our Facebook page to chat with us now!

© 2025 · MCR Realty Professionals, Inc. · 217-532-2525 Hillsboro Office · 217-324-4663 Litchfield Office · MCR Agent Office · Agent IDX Login · Sitemap · IDX Sitemap · IDX Sitemap · Privacy Policy · Terms of Service · Hillsboro IL Homes for Sale
Disclaimer - All Rights Reserved by MCR Realty Professionals, Inc.

AREAS WE COVER:

62049, 62089, 62056, 62017, 62075, 62094
Hillsboro, Litchfield, Coffeen, Nokomis, Witt

Log in · Real Estate Websites by Real Estate Websites by YourSiteNeedsMe.com