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First you need to know your credit score before you can clean it up By Justin Hunter

Owning property is a valuable asset that just about everyone hopes to obtain one day in his or her life. And while saving up for the necessary deposit and monthly mortgage payments is an important step in obtaining ownership, having the highest possible credit score will allow you to get the best mortgage rate and terms.  A better mortgage will allow you to purchase a better property.
The key to having the highest credit score possible is managing it. There are several ways one can improve a low score or sustain an already high one. But in order to do either of these, you need to know what your score is.
The article, “Scrub That Credit Score,” written by Dina ElBoghdady and published in the January 20, 2007 edition of The Washington Post offers helpful tips on how to improve your credit score, thus improving your chances of owning the best property possible.
The reason your credit is so important is because it indicates to the lender the likelihood of you repaying the loan in a timely manner. The more confident the lender is in your ability to do so, the better rate and terms you will be eligible to receive.
The credit score will not be the only thing your lender will scrutinize prior to offering a particular mortgage but a low score will put you in a poor compromising position. In order to improve a low credit score, the potential borrower needs to find out his or her credit score and know what it means.
“Most consumers neglect to do that, surveys have shown. About 97 percent of people have no idea what their credit scores are and 86 percent did not check their credit reports last year even though doing so is free, according to an informal survey by Credit.com Educational Services in San Francisco.”
“‘Many people don't know where they stand and they don't know that they can improve their standing,’ said John Ulzheimer, the group's president. ‘Some think their credit is good and it's not, and others think their credit is bad and it's not.’”
A good example to illustrate this point is Ryan and Colleen Kelly who recently closed on a home with a very low interest-only payment, even though they had $30,000 in credit card debt.
“‘I definitely thought our credit is worse than it is,’ said Ryan Kelly, 29, an administrative assistant at the National Institutes of Health. ‘We don't get late payment calls or creditors calling. But we still carry a balance on our credit cards, and I was concerned that would affect our credit score.’”
The credit card debt did prevent the Kellys from obtaining a top prime mortgage but it did not affect their chances of receiving a mortgage as much as they thought because their credit cards had been open for several years with several timely payments made on them, even though debt had accrued as well.
“‘We as lenders want evidence that you have been . . . [dealing] with creditors for a substantial amount of time so we can see that you are capable of repaying debt,’ Echeverria said. ‘That's what shows us that you are a good risk.’”
So do not limit yourself from a nicer housed or prevent yourself from even obtaining any mortgage just because you think you have a poor credit score. You can easily obtain your score free once per year with no damage to your account. Utilizing this option will help you identify the likelihood of obtaining a mortgage towards property ownership.
If you discover your credit score is low, then you can take the recuperative steps to clean it up.

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