Getting your finances in order

Buying your first home is a big adventure, and it all starts with getting your finances in order. Think of this stage as laying the groundwork for your dream house—without a solid foundation, the rest of the process can get shaky!

Check Your Credit Score

Your credit score is like your financial report card. Lenders use it to decide if you qualify for a mortgage, and what interest rate you’ll get. In North America, scores range from 300 to 850—the higher, the better. Aim for at least 620, but the best rates usually go to those above 740.

How to Check and Improve Your Credit

• Request a free credit report from major bureaus (Equifax, Experian, or TransUnion).

• Scan for errors—mistakes happen! Dispute anything that looks off.

• Pay down credit card balances and avoid new debt before applying for a mortgage.

• Always pay bills on time—late payments can drag your score down.

Get a Handle on Your Finances

Now’s the time to tally up your savings, income, and monthly expenses. Lenders like to see a steady income and a manageable amount of debt. Use this moment to set a realistic budget—not just for your down payment, but for closing costs and moving expenses, too.

Pro Tip: The more you save for a down payment (ideally 20% of the home price), the less you’ll pay in interest and mortgage insurance over time.

When you’re financially ready and your credit is in good shape, you’ll be in the best possible position to start your home search with confidence!

David Delgado - NMLS #349079
President/CEO
Main Office (866) 587-6927
Freedom Choice Lending
NMLS #1998153

Get A Mortgage go to ddelgado.amloa.org

P.S.  If you know any friends, family members, co-workers looking to buy, sell or refinance it would be an honor to help them as well.  When you come across anyone please give us a call at 866-587-6927 Thank you! David Delgado