Start saving early and make a financial plan when considering applying for a mortgage. This will enable you to present your best possible credit score, Fico/UltraFICO, debt-to-income ratio, utilization rate and credit history. Your credit/Fico scores are important but the reason why you need the loan and your positive documented credit history also matter.

Prior to applying for a mortgage or any loan make sure your FICO score is in good standing (minimum 650) and you have no recent bankruptcies, foreclosures or participated in a short-sell for a certain number of years before depending on the loan type.