New home buying can be so exciting. I strongly believe in taking the smart approch before buying your new home.

Instead of borrowing the maximum you can afford, allow wiggle room. Be prepared for future expences, create your budget and know your limits.

Every buyer needs to get prequalifed for a morgage. It's smart to do this early enough in the process so they can make some changes if they need to correct errors on their credit report.

All morgage lending is done with a tier of interest rates and terms based on consumer credit scores.

A credit score of 720 or above will earn you the best rates and can potentially save you thousands of dollers.

A score of 680 to 720 can get you a good mortgage rates, while a score of 620 is usually about the lowest score to qualify for most loans.