It's December and even though we are going through the holiday season it's still a great time to buy a home especially for first time Houston Homebuyers.

Although buying a home for the first time may seem complicated it's really not if you follow these tips.

Check your credit
The homebuyer's credit score is among the most important factors when it comes to qualifying for a loan these days.

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"In addition, the standards are higher in terms of what score you need and how it affects the cost of the loan," says Mike Winesburg, formerly a mortgage planner with McKinley Carter Wealth Services in Wheeling, West Virginia.

Scour the reports for mistakes, unpaid accounts or collection accounts.

Just because you pay everything on time every month doesn't mean your credit is stellar, however. The amount of credit you're using relative to your available credit limit, or your credit utilization ratio, can sink a credit score.

The lower the utilization rate, the higher your score will be. Ideally, first-time homebuyers would have a lot of credit available, with less than a third of it used.

Repairing damaged credit takes time -- and money, if you owe more than lenders would prefer to see relative to your income. Begin the process at least six months before shopping for a home.

Evaluate assets and liabilities
So you don't owe too much money and your payments are up to date. But how do you spend your money? Do you have piles of money left over every month, or are you on a shoestring budget?

A first-time homebuyer should have a good idea of what is owed and what is coming in.

You should understand a little bit about monthly cash flow," says Winesburg.

Source - Bankrate.com

Helping Houston First Time Homebuyers

To learn more about the Houston Real Estate market or to get help with buying your first home contact me today by calling (713) 819-1642 or click here to connect with me online.