If your credit score is less than 650, it could be difficult to get a good home loan with the best interest rates. It is time to start taking some serious measures to fix your credit so that you can avail the best home loans in the market. 

Here are the best tips to fix your credit quickly and become eligible for the best home loans: 

Pay off any long outstanding loans: Multiple liabilities on your credit report have a negative impact on your credit score. You can want to pay off tiny, long-term loans or credit card balances that are having a significant effect on your credit report.

Check your credit report for any errors: Check your credit score at regular intervals to ensure that the information on your credit report is right. If you discover any mistakes or omissions, you can get them corrected as soon as possible so that they do not have a negative impact on your credit score.

Do not default on payments: Maintain a record of all your monthly payments to make sure they are made on time. Payment default, even though it is a legitimate omission, has a negative impact on your credit score.

Limit your credit utilization: Avoid using your credit card to the full limit. This is one of the easiest ways to improve your credit score. Limit your monthly credit card bill to no more than 30% of your credit limit.

Avoid multiple loan/credit card applications in a short span of time: When your credit report receives a large number of inquiries in a short period of time, it is not looked at favourably. One way to avoid a drop in your credit score is to avoid having a large number of new credit applications in a short period of time.

Key Takeaways: A low credit score isn't the end of the world. You can increase your credit score by taking a few easy steps. Maintaining a healthy credit score requires disciplined credit management. While you cannot improve your credit score instantly, following these measures will have a significant impact on your credit score. A fair time to recover your credit score is 4-12 months. You only need patience, determination, and self-discipline to reach your credit target.