 TITLE: What Credit Score Do I Need to Buy a Multi-Unit Property? CONTENT: How to Prepare Your Credit to Buy a Multi-Unit Property\n-------------------------------------------------------\nBecause a mortgage is likely the biggest loan you'll take out, ensuring your credit is in good shape before you apply is critical. In fact, it could save you tens of thousands of dollars over the life of the loan.\nIf you're planning to take out a mortgage for a multi-unit property, the first step in preparing your credit is reviewing your credit reports and scores with all three of the national credit bureaus (Experian, TransUnion and Equifax). You can get a free report from all three at AnnualCreditReport.com. You can also get your Experian credit report and credit score for free.\nIdeally, you'll want to review your credit file at least six to twelve months in advance of shopping for a new loan. If that's not possible, try to give yourself at least a few months to make improvements, since it could take 30 days or more for changes to show up on your reports and impact your scores.\nReview your credit reports carefully to ensure all the information is accurate. If you find any inaccuracies, dispute them as soon as possible to have the information modified or removed.\nIf your score isn't as high as you'd like, you can take action. Some of the best ways to improve your scores quickly include paying down credit card balances, bringing any past-due accounts up to date, and making all your debt payments on time.\nAvoid opening any new credit accounts, such as a new credit card or an auto loan, in the months leading up to your mortgage application. Because a mortgage will represent a significant expense, wait until after you've purchased your new property and adjusted to making the on-time payments before seeking new credit. This will not only help your finances, but will also lead lenders to view your application more favorably.\nConsider getting prequalified for a mortgage to find out generally what you can get in terms of the loan amount and interest rate, and which lender you may want to work with. When you're ready to make an offer on a property, request a preapproval letter from one or more lenders for a more precise idea of rates and terms. Try to submit all of your applications within a 30-day window, which helps you avoid multiple dings to your credit scores. END