Improve Credit Score with These Home Finance Tips

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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.

2. Pay your mortgage—now.

Not all late payments are created equal: Almost nothing hits your credit score harder than a late mortgage payment.

3. Cool it on second mortgages and HELOCs.

Drawing down a second mortgage or HELOC can have a negative impact on your credit score because 30% of your credit score is based on how much you owe to creditors.