So... what's the best way to make your goals of homeownership become a reality? By paying attention to your credit. This is more than an important factor, it is the 1st step to ensuring financial stability and speaks volumes as to the way you conduct your personal business. But Elizabeth... what do you mean? Let me clarify...
When we are aging out of high school or college and companies are offering us credit cards, vehicle loans, payday loans, etc.. you can grow your level of responsibility by: 1) not accepting every single offer, only accept what you can comfortably financially afford, 2) paying these bills on-time and not being late in any given month, 3) not over-extending yourself or maxing out on your cards just because the balance is available to you. Credit is reflected when the billing company reports to the bureaus whether you paid on time or not. Your credit score is a historical record of financial responsibility. Trust me - we can mess this up ourselves without any help, and sometimes medical bills and even unforeseen issues may arise to cause a problem, like being hacked and having your identity stolen. Aside from the unknown, the key is to stay on top of your bills and 'adult' your way into each month by being timely and not over-extending your funds, by only buying what you need and can afford, and making sure to be timely in payment so your credit reports reflect this level of responsibility. Hence the most important step I would say, starts with credit. You must be diligent and focus on paying past due bills quickly, or contacting your creditor and negotiating a lower payment or other alternative.
For those that have already compromised their spending power and have a low credit score at the moment, never fear - it can always increase. I have loan partners that can assist you in rebuilding and repairing your credit so you can position yourself in a positive way, reduce the negative credit, and clear up the financial faux pas. Let me know if you are interested in credit repair and I can introduce you to my contact, to better prepare you for purchase and help stabilize and increase your buying power!