If you're looking to buy a home you must remember that patience and preparation are virtues that will serve you well as you ready to enter the market. MarketWatch staffer Constance Brinkley-Badgett reports on the five things to do if you wish to buy your first home in the next five years.
One tip is to improve your credit score:
While you don’t need top-tier credit to get a mortgage, an improved credit score can not only help you get approved quickly for a mortgage loan, it can also make better interest rates available to you.
In addition to improving your credit score, you may also want to save your down payment and closing costs:
The bottom line with a down payment is the more you can put down, the less you’ll have to borrow, so your minimum monthly payments will be lower.