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Updated over 8 years ago,
How important is your credit score for a first time investor?
Hi all,
My wife and I don't have the best credit and we're wondering how this will affect us when we go to purchase our first investment. We haven't missed any payments, been foreclosed on, or anything like that. The reason our credit is just fair is because we really haven't had much debt in our lives. We've never had credit cards, haven't bought a house yet, and we paid off the small amount of student loans that we had from school this past year. Also, we haven't been in our jobs that long but we make pretty good money between the two of us.
The more I read about making our first property purchase, the more it seems credit is a really important factor. My question is should we start focusing on building our credit or are there ways to get started without a great credit score?
Thanks in advance for the help!