Checking Our Credit Score

My husband and I always dream of getting our own place someday, but we've realized that it would be close to impossible to actually be "saving up" to get a house. We'd probably be saving all our lives and in the end not get any house because by then the prices would have been way, way higher than they are right now.

So we're trying to see if it would be possible for us to get a housing loan and if we could afford to pay the installments. We're checking if our credit score would entitle us to get a big enough loan for the house that we want. It's a pretty new concept for me -- credit score, that is. What is a credit score? That is what I am studying right now. What I basically know for now is that if you do not have a good payment history, your credit score goes down. Also, having no credit at all is not necessarily good because lending companies do not know anything about your paying capacity and how good you are with your payments. And, that there are ways to improve your credit score so that you will have a better chance of getting the loan that you want.

I would have to study more about it. I'm actually wary of getting into debt but sometimes debt is good -- if we can afford to pay it off.