The 3 Credit Score Secrets Every Homebuyer Should Know

The 3 Credit Score Secrets Every Homebuyer Should Know

If you’re planning to buy a home in the Chicago suburbs, your credit score is more than just a number, it’s a major factor that determines what kind of mortgage you qualify for and how much you’ll pay in interest over time. Understanding how your score is calculated can give you the edge when preparing for a home purchase. In this post, we’re breaking down 3 key credit scoring insights that every buyer should know, especially if you’re buying in places like Glen Ellyn, Wheaton, or anywhere in DuPage County.

Prefer to watch instead of read? Hit play below for a quick 2-minute breakdown.

Credit Score Secret #1: Pay On Time, Every Time

Your payment history makes up 35% of your credit score.

It’s the single biggest factor, and lenders want to see consistency. One late payment can do more damage than you’d think, especially if you're applying for a mortgage in a competitive market like the Chicago suburbs.

Bottom line: Set up auto-pay or reminders to make sure you never miss a due date.

Credit Score Secret #2: Use Less Than 30% of Your Credit Limit

Credit utilization accounts for 30% of your score.

Let’s say your credit card limit is $5,000. Try to keep your balance under $1,500 at all times. This shows lenders that you’re not overextended, and that’s a good sign.

Pro tip: If one of your cards is close to maxed out, consider transferring some of that balance to a card with more available credit to reduce your utilization ratio.

Credit Score Secret #3: Don’t Stress Over Credit Inquiries

Inquiries only make up 10% of your score.

Many buyers are hesitant to shop around for mortgages because they fear too many inquiries will hurt their credit. Here’s the truth: If multiple mortgage lenders pull your credit within a short window, it’s usually treated as one inquiry, not several.
Also, pulling your own credit report won’t affect your score at all.

Know the Weight of Each Credit Factor

Understanding how your score is calculated can help you focus on what really moves the needle:

• Payment History: 35%

• Credit Utilization: 30%

• Length of Credit History, Types of Credit, Inquiries: The remaining 35%

That means 65% of your score is entirely in your control.

We’ll Help You Connect the Dots

At The Bulava Group, we help buyers across DuPage County understand the full picture, from your credit profile to down payment strategies. While a lender is the one who will run your numbers, we’ll help you know what to expect and how to prepare for homeownership in competitive areas like Glen Ellyn, Wheaton, or Lombard.

Have questions about buying or selling in DuPage County? We’re happy to help, just reach out!