Shopping for Your First Home

More Articles:

*Is there a right way to find the right house for me?
*What's the best way to get the best deal?
*How important is it to improve my credit score?
*Should I rent or buy?
*What's the difference between pre-qualifying and pre-approval?
*How much should I put down?

How important is it to improve my credit score?

Very important. A good credit score is a key element in getting a good mortgage interest rate, so it should be of paramount concern. Make sure you have the most recent credit information on you and your spouse from Annualcreditreport.com the site established by the major credit reporting agencies to allow you annual free access to your credit report. Once you know where you stand, pay down as much debt as you can afford before you get started in your search, particularly credit card balances. Lowering the amount of your outstanding credit demonstrates creditworthiness. Collection accounts and judgments should be paid or resolved. And don't build up new debt during your house search. Once you take debt off, don’t pile it back on. Lenders need to know that they can trust you with a mortgage.