A credit report that is less than stellar can give rise to many problems and can be a source of stress. This can be especially frustrating when your credit mistakes are far in your past. It’s quite challenging to rebuild your credit, but it’s not impossible! Read on to find out how.

Getting money for a home loan can be difficult, particularly when your credit is less than perfect. If this is the case, you can apply for a loan through the Federal Housing Administration (FHA). The credit requirements for these loans are more lenient than those of conventional lenders, and the federal government also guarantees the loans. Even if an individual does not have money for the down payment to purchase real estate or pay closing costs, FHA loans may still work.

The first step in credit improvement is to build a plan. You must make a commitment to making changes on how you spend money. Just buy what you need, and forget unnecessary purchases. Before making any purchase, determine if it is within your means and if it is indispensable. Don’t buy the item unless you answer “yes” to both of these questions.

If your credit is such that you cannot get a new card to help repair it, apply for a secured one. You will most likely be approved for this type of card, but you will have to add money to the card before you can use it so the bank will know that you can pay for all of your purchases. If you use a credit card responsibly, you will go a long way in repairing your credit.

This advice can make a big difference in your credit score. Most importantly, be consistent, making sure to pay your bills on time. Rather than worrying constantly about your credit, start rebuilding it!

There are tremendous opportunities for small businesses and social entrepreneurs to support their communities through community foundations, donor advised funds and other means of giving back. Find the neighborhoods in San Mateo County where you can make the most impact on improving your community.