Doing any of those things will make your life harder when it comes to buying your first home.
You obviously want to avoid that, so do these 4 things instead!
1. Put your down payment in a separate, high interest savings account. This will help you track its growth and since it’s separate from your checking account, you won’t be tempted to dip into it!
2. Keep your full-time employment job. Switching jobs right before getting approved for a mortgage is a big red flag for a lender, and changing to an entrepreneurial income means that your lender will require more job history to ensure that you have steady income. Stick with your full-time job until you’re settled in your new home!
3. Control your credit card spending. Aim to keep your monthly credit use under 10%. Going over 30% will have a huge impact on your credit score, which will directly affect the interest rate you qualify for. Try to pay your credit cards off in full each month and/or create a plan to pay your debt down!
4. Start a home maintenance savings fund in a separate, high interest savings account. You never know when an appliance emergency is going to happen, so make sure to budget and save for it!
