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If your credit health needs some work, start taking action immediately. Paying bills on time, reducing your overall debt and limiting new credit inquiries can all help to build your credit - but be patient as it can take time for your positive actions to take effect. Nevertheless, the sooner you make the effort, the sooner you'll see results.

Making a prudent decision about buying a house comes down to an honest assessment of what you can afford. Keep in mind that you might be approved for a loan that's larger than what is practical for you to afford. While it may be tempting to buy a pricier house, the stress of struggling to make payments could diminish your enjoyment of your new home and even put you at financial risk. One rule of thumb is that most borrowers can afford a home loan that runs about two and a half times their annual salary.

Buying a home is a complex process, but one that is ultimately very rewarding when done right. By organizing your finances well in advance, you'll help set yourself up for success.

Source: www.transunion.com.