If the time has come for you to buy a house then you want to make sure you put yourself in a great position for being approved for your home loan. There are a variety of things the lender will look at in order to decide whether or not you are approved at all, how much you are approved for and the interest rate you will be given on the loan. Here are some things you will want to do in preparation for your visit to a lender:
Get your credit score up as much as you can
Find out what your credit score is and try to bring it up even more. Even if your score is already good, bringing up the numbers even more will only benefit you and increase your chances of getting a nice interest rate for yourself. Some quick ways to raise your score include paying down your credit card debt, disputing anything that is false on your credit reports and making sure you pay your bills on time.
Put an alert on your credit
You should join a credit monitoring service that will let you know if something goes awry on your credit reports. With identity theft being as commonplace as it is these days the last thing you want to have happen is to have someone put negative things on your credit report illegally that will result in you having a hard time buying a house. An alert service will allow you to catch changes right away so you can fight them and prevent them from ruining your credit score.
Save as much money as possible
Some types of home loans will require you to put down a certain amount of money as a down payment on a home. There are also other loans that you can get that don't require money down. However, keep in mind that the more money you do put down up front, the lower your monthly mortgage payments will be. Start setting aside as much money as you can to put toward that down payment now so you can have more options with regards to the different loans you are eligible for and so you are in a better position.
Have all your paperwork gathered ahead of time
You want to go in the office with all your paperwork in order. You want to be prepared with bank statements, employment information, the names and addresses of references and your credit reports.