Unless you’re buying a house with all cash, it’s important to make sure you have a good (if not great!) credit rating. There are definitely options for you even if your credit rating isn’t the best, but having a solid credit score certainly makes getting a mortgage easier — and at a lower rate.
But your credit score isn’t the only thing you need to be conscientious about! You also need to make sure you’re not opening new credit lines, or racking up too much debt if you’re planning on buying a house. Doing either of those things can hurt your chances of getting a mortgage or better rate, even if you have a great credit score.
It’s a lot to remember, and not something you may even think about until a mortgage company gives you bad news. So, to help you remember, here are 8 memes to help you become smart about credit and avoid making simple mistakes that could cost you a higher rate, or even your dream home.
1) Live your best life…but after you close on your house.
2) Don’t leave it up to fate when it comes to getting a good rate!
3) Unless you want to give your agent a panic attack, you better be paying cash for that couch!
4) Most agents would trade a TV deal to make that happen!
5) Your secret’s safe! Go ahead and hire your bestie…
6) Floating credit to buy a boat (or any other big ticket item) isn’t a good idea…
7) …but you should also be careful about the small things you put on credit.