Why Your Credit Score Is the Key to Your Real Estate Project
Planiprêt
Nov 10, 2025
Whether you’re just starting out or have years of experience, a strong credit profile is essential to make your dream of owning a home a reality. Your credit score directly impacts your chances of getting a mortgage and the terms you’ll receive.
5 Strategies to Build an Excellent Credit Profile
- Get a Credit Card or a Line of Credit
This is the foundation for building your history. Use it wisely and pay off the balance before the due date. Keep your utilization below 30% of your limit to maintain a healthy debt ratio. - Pay All Your Bills on Time
Every payment matters: credit cards, loans, utilities. A single late payment can hurt your score and remain on your record for years. - Close Unused Accounts
Too many open cards, even with zero balance, can raise concerns for lenders. Keep only what you need and close the rest. - Set a Clear Budget
Plan your monthly repayments to avoid surprises. Consistency is more effective than irregular large payments. - Check Your Credit Report Annually
Review your report with Equifax or TransUnion to correct errors and detect fraud. Enable alerts for added protection.
Patience and Persistence: Your Best Allies
Late payments can stay on your record for up to 7 years, but with good habits, your score will improve. If you can’t pay the full balance, make sure to cover at least the minimum payment.
Pro Tip: Check your credit score now and take steps to improve it. If you plan to buy or finance a real estate project, a mortgage broker can not only guide you toward the best financing options but also help you analyze your credit report to maximize your chances of approval.
Take action today: Review your credit report and contact a Planipret broker to explore your options. Your real estate project starts with a solid credit strategy!
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