First Time Home Buyer 2012: Your 60 Second Mortgage Tip

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Do you want to be a first time home buyer in 2012? Are you worried that time is running out? Do you wonder if you still can make it happen? Well you most likely still can. Find out what indicators show that you still have time.

One of the first things you should consider is how your credit likely looks. You probably don't know your exact score - it varies from industry to industry - but you can tell if you're on the right track.

• Do you pay your bills on time, every time? (you should)
• Have you been paying trade lines (credit cards, store credit, insurance) for at least 6-12 months? (you should)
• Do you have any collections or judgements? (you should not - unless maybe medical)
• Have you had a foreclosure, short sale or bankruptcy in the last 3 years? (hopefully not, but don't give up hope completely)

It's important to pay your bills when they're due. It's also important to have a varied credit history that's a year old. If your credit history is light and new, then you may have to wait a few months. Since it's only May, you still have time to be a 2012 first time home buyer if you have at least a few months (4-6 months) of credit history.

The video below is our :60 Mortgage Tip answering the question, "Can I still be a first time home buyer this year?" Take a look and see if you're on the right track.

See the video here - 60 Second Mortgage Tip: First Time Home Buyer 2012

If you've had financial trouble like a bankruptcy or foreclosure, all is not lost. You may need to wait a bit and repair your credit, but a mortgage consultant should be able to helpyou get on track.

Get yourself ready to become a first home buyer this year with the free eBook "The Essential Guide to Buying Your First Home" at the button below. From credit tips to down payment info, it's all in there for you.

(hourglass: Flickr user jaci XIII)