Repairing your credit

From mortgages to refinancing and home equity lines of credit -- it's getting harder for people to qualify for a loan. And that makes your credit score even more vital.Most lenders will look at your FICO credit score. The scores range from 300 to 850. The higher the number, the better credit you have and the lower interest rate you'll get.
Today, you'll need a higher score to get good loan terms.
"You really have to have good credit," said Bob Moulton, president of the Americana Mortgage Group.
Your credit score may have to be as high as 720 he says. "You can get credit in some places for 680. But that number gets higher every month," according to Moulton.The first step to improving your credit is -- knowing where you stand. You can get a free copy of your report once a year from each of the three credit bureaus at https://www.annualcreditreport.com/cra/index.jsp. This is especially important if you think you will apply for a loan in six months.