The Secret To Raising Your Credit Score
A few points either way on your credit score could mean the difference of becoming a homeowner or not. Things in your past like late or missed payments, closing credit cards, or even inaccurate or fraudulent information can drag your credit score down. Want to learn how to raise your credit score 36 points? It’s not a big secret…ready?
Financial coaching with NeighborWorks.
Yup. That’s the answer. While there aren’t any magic fixes, there are easy steps that you can take to improve your credit score in order to become a homeowner. We hear from a lot of frustrated Vermonters who need help raising their credit score. They are taking a “next big step” in life but that score is holding them back. Lenders deny them based on their scores and this keeps homeownership out of reach.
If this sounds like your situation, the FIRST place to start is at our Homebuyer Education class where you will receive a free, one-on-one financial coaching following the completion of the 8-hour class.
Our customers who follow the actions steps and guidance of our financial coach improve their credit scores, on average, 36 points.
Our Homebuyer Education course lays the foundation for our financial coaching service.
During the eight-hour class, you’ll learn the basics of what a credit score is, what impacts it, what improves it, and why it’s important.
After Homebuyer Education, you’ll be able to schedule a one-on-one financial coaching session. You’ll do this through Compass, our online customer portal, which will also prompt you to upload relevant documents required for the coaching session.
One-on-One Financial Coaching
Compass does a lot of cool things which you can explore once you have an account, but, most importantly, it facilitates the secure transfer of your personal documents to our financial coach.
- Two most recent bank statements (for all accounts)
- Two most recent signed Federal Tax Returns including W-2s
- Most recent paycheck stubs for last 30 days
- Alimony and child support documentation (if applicable)
- Proof of other household income: Social Security, 3-Squares, LIHEAP, Reach Up, etc. (if applicable)
- Completed budget
- Completed Pre-coaching Financial Survey
Our coach requires these documents ahead of the first appointment so that you can hit the ground running and make the most of your time together.
She’ll also pull your credit report (an $18 fee) so that you can review it during the session and take action steps for improving your credit. This often includes paying past due accounts, creating a budget and sticking to it, and re-establishing credit; but, since credit is incredibly complex, each client receives customized advice for handling their credit.
If you’ve got your sights set on homeownership or just want to improve your credit and you’re looking for some advice and guidance, call us about financial coaching today at 802-438-2303.
Credit repair takes time, dedication, restraint, and persistence, but with our financial coach at your side, it is possible.
Think about what a 36 point increase in your credit score would mean! To learn more about the power of financial coaching even after the homebuying process, check out this blog post.