You’re planning to buy a home, and the first thing you need to do is check your credit. A low credit score could keep you from buying a home or you may not get a great interest rate, depending on how bad the score is.

Start early to improve your score if it’s in bad shape. If you have numerous credit cards with high interest rates and high balances, begin paying them off. Don’t get into a position that you end up paying late charges, and always pay more than the minimum because interest keeps piling up every month. Show good faith by paying bills off and showing lenders you’re dependable.

You also shouldn’t purchase any expensive items, such as a new car or truck, prior to applying for a loan. Large purchases can be detrimental to a good credit score and scare lenders off.
Once your finances are in good order and you find the house of your dreams, you’re set. Large purchases can wait until you sign on the dotted line for the home.

Think how happy you’ll be with paid off charge cards and a new home.

If you have any questions, your Realtor at Stacey Driver Real Estate will be happy to answer them for you.