How you manage your home ownership finances affects your credit score—and your ability to refinance later.
\Your credit score affects how much you’ll pay for a mortgage or refinance—or even if you can get one at all. Master the six ways to manage home-related spending to keep your credit score braggingly high.
1. Postpone that refinance until your credit is squeaky clean.
Even a small blemish on a credit report can cost you at closing. Money expert Denise Winston found that out firsthand: Her husband hadn’t paid a $40 pager charge. The unpaid bill was turned over to a collection agency and ended up damaging his credit score.
Because of that one small unpaid bill, the interest rate on the couple’s mortgage was 0.25% higher than if he’d had a