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homehunting

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To bit a house.how long should you have.accounts open.for?
Trying to buy a house have one account that was open.for 7months 2 others for.4 months an 2 others for a month in a half .everything has been paid on time with out an late payments.

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You're going to want at least a year of credit history on your report before you apply for a home loan. Some creditors have suggested to me to get 3 years, but it all depends on the bank. One year is a very minimum stretch to apply, but if you have an income to support the loan, a fair credit score and a low debt to income ratio, you're going to have a much better chance to secure the home loan.

I suggest to apply when your 1 year history hits, if you're rejected, then one inquiry shouldn't hit your credit score too hard. You will receive a reason you were declined, if the reason is in regards to your account history not being long enough, then I'd suggest to apply again in a year or two. Good luck!

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