1. Confirm that your credit is in order.

If you don’t have a very colorful credit score, you may want to way a little while before you’re thinking of purchasing a home. With a score below 750 and especially 700, you may not get a very intriguing rate with your mortgage. Take time to build your credit if it isn’t already established.

2. Make sure you have at least 10% cash for a down payment.

With FHA, VA and USDA loans becoming increasingly popular in today’s economy, it’s becoming easier and easier to get lower down payments. However, with these low down payments come a high interest rates. Ideally, if you have over 10% down payment you will get a fairly decent interest rate for your mortgage.

3. Plan for the unforeseen expenses.

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