Buying a house is the American dream. If you want to achieve that dream you must have a good credit score. What this means is you need low credit card debt making enough money to pay your debts. If your credit is not looking so great, you may want to consider waiting prior to applying for a mortgage.
Your credit says a lot about you and just how responsible you are. If you are currently behind on bills or will be in the past, it does not reflect well you. Mortgage companies need to know that you could settle the debts you have. They don't want to loan you money if you already show a poor history of repayment. It also does not look great for those who have lots of credit debt. When lenders see this they automatically think that you are living off of borrowed money, and save money than you need to.
Prior to applying for a home loan you will have to cleanup your credit track record. You should have at least one year of promptly payments. It is also ideal to have your credit debt down to ten percent or less. During this period do not make an application for any new credit, this will show lenders that you are not desperately looking to get your hands on more income. For those who have any unpaid collections you will have to eliminate them. Try to obtain the collection account deleted by negotiating with the collection company.
Once you have successfully cleared up your credit report it's time to start your mortgage application. You with thankful that you waited if you notice that low interest rate that will not have access to been available to you previously. Enjoy the fruits of the labor because you deserve it.
Author Resource:
NOTE: By researching and comparing the best credit card debt consolidation options in the market, you will determine the one that meets your very specific financial situation.
You are very welcome to visit the Credit Card Consolidation Loan website - where you can see the best rated debt consolidators on the market.
Proudly sponsored by the Payday Loans Arizona team
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")