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There are a few things that you need to be aware of when it comes to your credit score and how best to improve it before making your first home purchase. Today we’re going to cover some information that will help you plan ahead for any pre-purchase mortgage work needed, as well as some tips and tricks for managing your time and money resources after purchasing a new home.

Get Your Credit Report Early

You should get a copy of your credit report as early as possible. Ideally, you would have this information before you begin to apply for mortgage loans. Having access to your report and score before you start applying for mortgages will give you the opportunity to check for errors that may be hurting your credit score and eliminate them before they cause too much damage.

Know What’s Affecting Your Score

Among the most important things to do is to learn what is affecting your credit score. Paying back your existing debts on time and keeping your credit card and loan balances low and stable are big factors in having a good credit score. However, there are some things that make a difference to you even if you manage them well. Late payments, outstanding bills, defaults, even old collections from bad debt can make it harder for you to get a good deal on that new home loan.

Budget Your Time and Money

Regardless of the situation, it’s always smart to plan ahead. When it comes to your home purchase, budgeting your time and money will allow you to make sure that everything happens on schedule, which will increase your chances of getting a good bit if you need any pre-purchase mortgage work done. It also helps you stay on top of things when the financing contracts start piling up and deadlines start approaching.

Know What to Do If You Get a Bad Score

If your score is bad enough that you can’t get the loan you need with the mortgage lender that you want to use, there are still options available to you. Those options will be easier if your credit score is on the lower end of the spectrum and harder if your credit score is perfect. Either way, it’s another reason why doing what you can early can help keep things running smoothly later.

Pre-Purchase Mortgage Work Tips and Tricks

When it comes to pre-purchase mortgage work, many households do a great job going through the steps with no problems. However, for those who have trouble with a mortgage loan or who want a little guidance in making sure they don’t miss any important steps, there are some things worth knowing.

1. Get Pre-Approved for the Mortgage Loan

The first thing you need to do before you can start any pre-purchase mortgage work can be done while you’re still under contract. Getting your approved for the new loan will make it much easier because you won’t have to worry about trying to secure financing after you’ve already signed the purchase agreement and been taken care of.

2. Find a Good, Local Lender

Getting the right mortgage lender is one of the things that you need to remember when it comes to pre-purchase mortgage work. Having a lender in the same area will make it easier for you to keep tabs on things while you’re going through the process. It will also help you find someone who is willing and able to take on your project, because they can check in and see how things are going before too long.

3. Pick a Process that Works for You

There are many different ways to do pre-purchase mortgage work and you need to pick one which works for you. There are some lenders who require their clients to visit their office, while others will do the paperwork and approve your loan over the phone. Whatever way you decide to go, make sure that it leaves plenty of time for the process to go smoothly.

4. Know What You Need to Financially Prepare for the Mortgage Loan

You might want to talk with your pre-approved lender now before signing your loan to check on what you need to do financially in order to be ready for the new mortgage. The goal is that you want a mortgage, not only because it will have a big impact on your credit score, but because you’ll also be paying off the debts that are causing it some problems.

5. Get the Right Paperwork Together

Make sure that you have all of the paperwork prepared before you show up for your settlement. While this is something that everyone should do, it’s especially important if you are buying a home with a mortgage. If you don’t have your paperwork in order, there is a chance that you could run into delays and complications before closing day.

6. Don’t Miss Your Repairs and Inspections

Whether they are normal or not, there is no reason that you should miss your repairs and inspections. While you may think that you can get away with skipping the inspections and repairs, lenders don’t like to see this. They want to make sure that everything is working the way it should be before they will approve your loan, so take care of them right away.

7. Take Care of Your Closing Costs

Make sure that you’re ready to pay your closing costs when you go to close on the new mortgage. Paying for them before closing is definitely the best way to make sure that you don’t have any surprises at the end of your transaction. And don’t forget about paying for down payments, either.

8. Be Prepared for Things That Can Go Wrong

It’s inevitable that things are going to go wrong at one point or another during the process of pre-purchase mortgage work. However, you need to be prepared for those things so that you don’t have any surprises when they happen. You can do this by learning as much as possible about what is required of you and being proactive with it.


It is very important that you take the time to learn about how to save money on a mortgage so that you can afford to have the home of your dreams. Keep reading and learning as much as possible, because there are many things that you can do to make sure that you are getting the best mortgage possible – and saving a lot of money in the process.