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SunshineSunshine1

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How to build my credit to buy a house.
I am 22 and hoping to buy a house in less than a year. I will have a down payment saved up, but I was wondering how to get the best loan? I am trying to build my credit up, but am wondering if there are particular things I could do to set me up for success as I enter home ownership.
Here is my situation:
I am 22 and opened a secured credit card when I was 18. I have about $2500 in credit line between a few cards (paid off with small activity per month). i have $27000 in students loans. I don't have any assets, and I bought my car in cash. I just graduated college and started a full time job. I have been working part time since I was 16. I haven't had any late credit payments and my credit score is 750.

any advice?

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Just keep it up!

Helpful to 2 out of 2 people

You're doing great if you are maintaining a score of 750.  You will likely get very favorable loan terms based on the score alone.  About the only thing you can do to make it better is the lenght of credit history.  I suggest that you don't open up any new credit as it will have a significant impact on your average age of accounts. 

Save up your downpayment and get ready to buy a home.  When you are ready, talk to a mortgage broker about your goals with home ownership.  The broker will be able to give you a realistic picture of what size of loan you can qualify for (which will be more than you can afford, just remember that).  Then talk to a real estate agent about what type of place you're looking for and in what areas.

Good luck!

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