Step 1: CREDIT SCORE | First Time Home Buyer's Guide

So you're considering a first-time home buyer and maybe have a lot of questions. Well, you've come to the right place because in this series we are going to walk you through each step of the home buying process from beginning to end so that you can go into each one confidently and eagerly.

In this video, we are talking about your credit score. And why this is so important when you're considering a first-time home buyer.

The first step to beginning the home buying process is to know what your credit score is. This number will determine how much of a loan you will be able to qualify for and at what interest rate.

This is so important because the interest rate on your loan will have a big impact on your monthly payment. The higher your credit score, the lower your interest rate will be.

It might be a better idea to improve it before you start shopping for a home. But don't worry if it's not where you want it to be. There are things that can be done to improve your credit score.

The credit score is determined by payment history, amounts owed, length of credit history, new credit, and types of credit used.

How do I improve it?

The first step is to check your credit report for any errors. Then, start making all of your payments on time. Another way to improve your credit score is to pay down the balances on your credit cards. it's all about being responsible with your credit.

If you have any questions about credit scores or the home buying process in general, please reach out to us. We would love to be your number 1 real estate resource!

Please stick around for our next step in buying a home "The Downpayment".