Times are really tough, especially for those of us looking to purchase a home. Had we jumped on the loan bandwagon a few years ago, we probably would be homeowners right now! Granted, we’d probably be going into foreclosure, as well, but it’s a gamble some of us wish we took.

At any rate, the good news is that owning a home is still possible. Just follow these five simple steps and you are well on your way to happy househunting.

1. Make sure that your bills are current as creditors don’t like past due accounts.

2. Get a hold of your credit report and watch it like a hawk. Errors are highly possible and they may be hurting you without your knowledge. If there are disputes, put it in writing. Send a letter right away explaining why it is wrong and request that it be removed IMMEDIATELY!

3. When purchasing a home, put down as much money as you can! Hey, I know it’s hard but it is worth it. Save, save, save until you’ve got something to throw down because a. banks will be more willing to loan money to you and b. it will cut costs on monthly mortgage payments.

4. Finding the right bank is like shopping for shoes or Seven jeans. Shop around until you find the perfect fit. Banks have different lending standards and you, the consumers, may find better rates if you compare/contrast.

5. Maxing out your credit is a no-no. Don’t get me wrong, we all know that credit cards make it oh, so easy to do. And if this happens, ask for an increase in spending credit BUT stop spending!

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