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Homebuyer
Ready to become a homeowner through The Welcome Home CLT?
Discover how the Clark County CLT program can help you buy your first home. Your path to homeownership starts here.
Our Community Land Trust helps first-time buyers achieve homeownership and keep housing permanently attainable.
Unsure About Your Credit Score? Learn More!
What is a credit score?
A credit score is a number that creditors use to determine your credit behavior, including how likely you are to make payments on a loan. It is like a financial credit card; it tells lenders how responsible you are with money.
Having a high credit score can make it easier to get a loan, rent an apartment, or lower your insurance rate.
How to get your credit score
There are four main ways to get your credit score:
- Check your credit or loan statements.
- Talk to a credit or housing counselor.
- Find a credit score service.
- Buy your score from one of the three major credit reporting agencies: Equifax, Experian, or TransUnion.
To learn more about each method, click here.
How your credit score is calculated
The three major credit reporting agencies create credit reports which include a history of your credit, loans, and other financial information. These credit reports are used to calculate your credit score.
The information from your credit report that affects your score includes:
- Payment History
- Outstanding balances
- Length of credit history
- Applications for new credit accounts
- Types of credit accounts (mortgages, car loans, credit cards)
How often does your credit score update
Creditors typically report to credit bureaus every 30-45 days. Since each creditor reports at different times, you could potentially see weekly changes to your credit score.
Need Assistance?
Our homebuyer education partners also provide housing counseling services. They can help you develop an individualized financial action plan and services such as credit score improvement, to help you get mortgage ready.
Resources
- Consumer Financial Protection Bureau
- Guild Mortgage: How to Understand your credit score
- WaFd Bank: Building Credit
Did You Know?
Clark County continues to experience growth but rising housing costs make it harder for many families to stay rooted here. Our CLT program helps keep homes attainable for the long term, so more families can grow and thrive.
Success Stories (Coming Soon)
Hear from families who found a home and community through our CLT program