Are you planning on buying a house? Follow these tips:

1. Only a couple of credit lines are enough. Keep a level of debt of 30% or less on each one of the credit cards or other debts and pay more than the minimum each month on time. If you have more or less lines open, consult with us before closing them, you might lose score if you close or stop using them.

2. Avoid having car payments. Consult us if you already have one or if you are planning to buy one to advise you on the quantity where your monthly payments should be at in relation to your income. A car payment is one of the factors that takes up the most purchasing power when buying your house.

3. Having savings is important, however in some occasions it is unnecessary to have many when you are purchasing a house, each case differs and is relative to your income, credit, etc.

4. Colorado is one of the few states with help programs for initial fee or down payment when you are purchasing a property for the first time and on some occasions for the second time. I bet you didn’t know this.