A key part to getting approved for a mortgage is your credit score. Before you even think of buying a home, you need to at least have a “fair” score, but the higher the better. (There are some places that negotiate with people with bad credit, and the economic downturn has made some people a little more forgiving). Again, your life will be much easier with a higher score. Luckily, there are a few tips and tricks to getting your score up before applying for a mortgage. It will take several months to a year (or longer), but it can happen. Check out this post by Lee Nelson at Yahoo Homes for help:
-Increase the limit on your credit cards- but keep your balance low
-Don’t cancel old credit cards- If you had a particular card for 14 years, and you haven’t been late on a payment, that’s a good sign that you are responsible to the lenders
-Don’t apply for more than 2 cards each year