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New Year’s Resolutions That Can Help You Buy a Home

New Year’s Resolutions That Can Help You Buy a Home

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Posted by: Jaime Barb on Wednesday, January 22, 2020 at 6:00:00 am

New Year’s Resolutions That Can Help You Buy a Home 

Is buying a new home in your goals for 2020? Follow these five steps to can help keep your finances in best shape to do so.  

 

  1. Avoid job hopping

    Employment history and income are the two biggest factors when evaluating a mortgage application. Sometimes job hopping can send red flags, especially when moving to a different industry. 
     

  2. Limit monthly subscription services

    Those monthly subscriptions can add up! Consider keeping these services to a minimum. 

  3. Build a solid credit history

    Lenders are looking for a responsible buyer who is less of a risk. Records of paying your bills on time as well as rent and utilities will show a lender that you can handle monthly payments. 
     
  4. Check your credit

    If you are unsure of your credit, many financial websites offer credit score monitoring or you can get a full credit report once a year.

  5. Avoid large purchases

    Avoid taking that vacation or buying that car. Even if you are preapproved, this is advisable.  

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