While there’s no set formula that will guarantee the improvement of your credit score, taking steps like paying your bills on time, making sure the amount of debt you have doesn’t approach your credit limit, having a lengthy credit history, avoiding too many credit inquiries, and not having too many credit accounts can benefit your credit score.

APR stands for annual percentage rate. What this boils down to is essentially the cost of your mortgage as a yearly rate. It’s the easiest metric to use to compare mortgages and the annual cost for each. The APR really is the true cost of a loan.

Private Mortgage Insurance protects lenders in cases where a borrower defaults on a conventional mortgage where the down payment is less than 20% of the purchase price of the home. You can avoid this added expense by making sure the down payment is at least 20%.