Preparing Your Finances for Home Buying
Spring is one of the busiest seasons in the real estate market! If you’re planning to buy a home in Spring 2025, now is the time to get your finances in order. Here’s how to prepare:

Boost Your Credit Score

  • Check your credit report for errors and dispute inaccuracies.
  • Pay down outstanding debts to lower your credit utilization.
  • Avoid opening new credit accounts before applying for a mortgage.

Save for a Stronger Down Payment

  • The more you put down, the better loan terms you can secure.
  • Look into first-time homebuyer assistance programs.
  • Avoid moving money between accounts before applying—lenders need a clear history.

Lower Your Debt-to-Income Ratio (DTI)

  • Pay off high-interest debts like credit cards.
  • Avoid taking on new loans or financing large purchases.
  • If possible, increase your income through extra work or a raise.

The more prepared you are, the easier your home-buying journey will be! Stay tuned for Part 2, where we’ll cover mortgage pre-approvals, budgeting for hidden costs, and locking in interest rates.

Silver Leaf Financial Group Inc. Lic#13415 Suite 204 - 3582 Major Mackenzie Drive W Vaughan, ON L4H 3T6

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