Steamboat Springs, CO Real Estate and Community Blog

Update:  This post was written in April before the credit market really tightened up.  People can still get financing, it just takes more work.  If you want to finance–and rates are really good right now–be ready to put 20-30% down and be ready to document your income.  Our local banks are still making loans and we have some great mortgage brokers who will work with you to find the best loan for you to buy Steambaot real estate.

If you are looking to finance Steamboat Springs real estate, your credit score is key to a good interest rate. A low credit score means higher interest rates or being denied credit, both which will prevent purchasing the home or condo you want.

Here are some tips to repair your credit score so you’ll be ready when you purchase Steamboat real estate:

• Get a copy of your credit report from all three credit bureaus and check them for inaccuracies. If you find any, report them ASAP with documents and information to back up your case. If you can prove the error, insist on a correction.
• Don’t apply for any more credit (credit cards, loans, “free for 12 months”tore credit, or anything else) while you are improving your score. Just applying for credit–even if you never use it or get it– counts against you.
• Pay your bills on time, every time.
• Don’t use all the credit you are entitled to. If you have a credit limit, keep your charges way below it.
• Pay with cash and leave the credit cards at home.