What I Wish I’d Known About Credit Before Buying My First Home
We bought our first home a couple of decades ago (I’m not going to say how many… because that might give away my age). When we were getting ready to apply for a mortgage, the very first thing I did was cancel several credit cards we hadn’t used in years — even though they had great payment history.
Why did I do that? Because no one told me otherwise. There was no “Shachi” in my life at the time to explain how credit actually works. I truly believed that having fewer credit cards would make us look more responsible and boost our credit scores.
Ironically… I did the opposite of what I should have done. That experience stuck with me — and it’s one of the reasons I’m so passionate about educating my buyers today.
A Few Credit Basics to Keep in Mind
If you’re thinking about buying your first home (or your next one), here are some important things to know:
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Length of Credit History Matters:
Older accounts with a positive history help your score. Closing them can shorten your average account age and hurt more than help.
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Payment History Is King:
On-time payments over time carry more weight than almost anything else.
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Credit Utilization Matters:
Keeping balances low relative to your credit limits is important. High balances — even if paid on time — can drag scores down.
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Don’t Make Big Credit Changes Before Applying:
Opening or closing accounts, financing furniture, or moving balances around right before or during the loan process can impact your score and your approval.
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Ask Before You Act:
A quick conversation with your loan officer before making changes can save a lot of stress later.
Bottom Line
Credit doesn’t have to be perfect to buy a home. But understanding how it works can make the process smoother — and prevent unnecessary surprises.
Over the next few weeks, I’ll be sharing similar simple, plain-English guidance around other qualifying factors such as income, assets, and overall readiness, so you have a clearer picture of how everything fits together.
And if you ever want to talk through your specific situation, I’m always happy to help. No pressure. Just clarity.
The BankSouth Mortgage Advantage
Experience the speed of ReadyApprove from BankSouth Mortgage, where you can secure conditional approval for conforming loan limits within hours.
With ReadyLoan®, you can make this process even easier. Our digital platform lets you apply, track your loan progress, and submit documents securely—all from your computer or mobile device. You’ll be armed with the confidence to quickly submit an offer, and the seller will see you as a serious, prepared buyer.
Have peace of mind with our FREE one-time rate float-down* and no lender fee refinance** options!
When you purchase your home with me at BankSouth Mortgage, you may be able to refinance later with no lender fees. This program offers flexibility as life changes, with the potential for savings when it matters most.
*One-time float down available on 45-120 day rate locks. Float down must be executed at least 15 days prior to closing and must be at least .125 improvement. **This offer may change or end at any time without notice. “No Lender Fees” refers to waived origination charges. Eligibility conditions apply. Subject to credit and property approval.
Blog post date: Friday, February 13, 2026
