Cons of Waiting to Boost your Credit! 👀 #homeloans #mortgageloanofficer #firsttimehomebuyer

Are you waiting to boost your credit score before buying a new home? If so, you've put some good thought into this and you have your priorities in mind. But what if I told you that's going to cost you more money in the end? So usually the goal with boosting credit is to lower the interest rate by about a quarter or a half percent, which saves about 50 or 100amonth on the average home loan. But home prices are going up on average a half percent every month. So a $40,000 house is going up $2,000 in price every single month as you're waiting to boost your credit score. But the money going towards paying down debt to boost your credit score could be money put towards a down payment on home. And almost nothing builds your credit better than making on time mortgage payments. You could take advantage and get the benefit owning a home, gaining appreciation, paying towards something that's going to pay you back using the same money you're already going to use, and boosting your score even quicker. And when rates drop, you could refinance into those lower rates instead of paying higher home prices. Then to give the best of both worlds.