There is not a specific set of instructions that anyone can get that can fit every situation, and thus, a website alone is not the best solution. We encourage you to connect with Road Back Home, where we can help you chart a personalized course to homeownership.
Here is a basic list of steps to take to better manage your credit:
Pay on time. Devote your life to eliminating late payments and collections from your future credit record. They may have happened in the past, and it will take time to get past those items, but deciding to eliminate those issues in the future will have the greatest impact on your credit score, and on your interest rates when you do qualify.
If you are preparing to purchase a home again, it would be helpful to just look past the offers to open new credit accounts for awhile. Every time you apply for a loan or credit, an inquiry will appear on your credit report. While some inquiries, such as for mortgage loans, will be understood, you want to avoid the idea that you might be having financial difficulties or that you are overextending yourself. Minimizing the number of inquiries on your credit report should help.
Do your best to keep your account balances on revolving credit (like credit cards) to under 35% of your limit. If you have a $100 limit, keep your balance owed below $35.Start on the Road Back Home.