Spring Cleaning Your Finances: Preparing for a Mortgage

Spring is the perfect time to refresh not just your home but also your finances—especially if you're thinking about buying a home. Here are some key steps to get your finances in shape for a mortgage:

1. Check Your Credit Score

Lenders use your credit score to determine your interest rate and loan eligibility. Check your score, dispute any errors, and work on improving it if needed.

2. Pay Down Debt

Your debt-to-income ratio (DTI) plays a big role in mortgage approval. Paying off high-interest debt can help lower your DTI and make you a stronger borrower.

3. Build Up Your Savings

Beyond a down payment, you’ll need funds for closing costs, moving expenses, and home maintenance. The more cushion you have, the better!

4. Avoid Big Purchases or New Credit

Hold off on financing a car, opening new credit cards, or making large purchases before applying for a mortgage. These can impact your approval and loan terms.

5. Get Pre-Approved

A pre-approval gives you a clear idea of how much home you can afford and makes your offer stronger in a competitive market.

Spring is a season of new beginnings—why not make homeownership one of them? If you’re thinking about buying, let’s chat about your options!