The beginning of a new year always allows us to evaluate and alter things in our lives. Maybe you’re planning on giving up a bad habit or developing a good one. Perhaps you want to start going to the gym (perhaps the one that you joined last year), or your life-altering goal is to get better control of your finances. For many of us, we want to celebrate the end of 2020 in a home that we own. If that’s your dream situation, here are some resolutions for you to consider to get you on the fast track to homeownership.

Fixing What You Can Fix

There may be some obstacles standing between you and homeownership, and some of them may be things that are out of your control. Maybe the market is just not right for buyers in your current town, or perhaps you don’t have the money for a down payment right now. We will look at how to fix one of those later, but for now, let’s look at what you can fix: your credit score. Every lender and every type of loan have credit score requirements, and there’s a chance that you don’t currently meet those. If that’s the case, don’t get frustrated, but begin taking some steps to boost your score today.

Avoid Large Purchases

If your goal is to finance a home that will take you somewhere between 15 and 30 years to pay off, you want to avoid financing anything else right now. Your debt-to-income ratio (the ratio of what you make compared to what you owe) is a deciding factor that lenders look at when calculating how much money, if any at all, to loan you. Don’t fall into the trap of buying a new car, new furniture, or anything that you can’t pay cash for right now.

No Job Changes

Unless something catastrophic happens, don’t switch jobs until you have closed on your new home. Underwriters become very concerned when they see someone transitioning from one position to another, especially changing career fields completely. A clean job history with a proven track record at one place is imperative.

Best of luck in reaching your dream of homeownership!