Prepping to Buy a House: Financial Tips for Aspiring Home Owners

Aug. 1, 2017
By Sara Russell

Prepping to buy a house can be a daunting task, plan ahead for smoother results. Below are 6 practical tips for aspiring home owners.

1. Pay Bills on Time
   This is the easiest way to boost your credit score.
2. Research Loan Options
   Learn the details before you’re financially entangled in one.
3. Avoid Big Buys
   Don’t make any major purchases before trying to add a mortgage.
4. Have 3 “Trade Lines”
   While trade lines is industry speak, it means that lenders like to see that you can manage multiple payments such as student loans, credit cards, etc.
5. Save for a Down Payment
   The more you save, the easier the loan will be.
6. Credit Timeline
   6 months before you want to buy a house stop checking your credit score. 2 months prior, stop using your credit cards.

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