Screen Shot 2020-01-10 at 12.00.37 AMYou’ve been dreaming about buying a house, but not sure you have everything in order needed to obtain a mortgage? Buying a home is a financial responsibility and will require approval from a lender.

Fear no more. Below are 5 New Year’s Resolutions that can help you get yourself in a good place to make a favorable impression to those holding the key, so to speak. Good luck!

1. Job hopping

Employment history and income are two of the biggest factors lenders look at when evaluating a mortgage application. A new job may be a good career move, but if you plan to buy a home in the new year, know that job hopping can be a red flag to some underwriters — especially if you’re moving to a different industry.

2. Monthly subscriptions can add up!

Monthly subscription services are certainly convenient, but they can add up. Even if you pay off your credit card every month, you could be dinged for high credit utilization if your credit report is pulled midcycle. If you’re thinking of buying a home this year, consider keeping your monthly subscription services to a minimum.

3. Your credit history counts

One of the first things a lender will look at is your credit history. Lenders prefer borrowers who have a history of paying off credits cards and other debts on time — because it signals that you’re a responsible borrower and less of a risk.

4. What’s your credit score?

Your credit score can have a significant impact on your ability to buy a home. A low credit score can negatively affect how much money a lender is willing to loan you, as well as your interest rate.

5. Avoid large purchases

Avoid taking on large amounts of debt — whether it’s buying a car or planning a large vacation — before buying a house. This is advisable even if you’re already preapproved.