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Are you thinking of buying a new home? Most people buy a home with the help of a mortgage loan.Would you qualify? Are you making the right choice? Here are 5 things you should know:

1. Be Free from Debt.

Do not make big purchases on credit unless you are paying by cash.This includes furniture, cars, electronics, restaurants, jewelry, lavish weddings and parties etc

2. Do not 'Job-hop'

Do not change your present job just before applying for a loan, unless it is for a higher paying job. Job-hopping is out. It suggests a lack of stability.

3. Keep proper financial records

Document all financial transactions. Keep your receipts, canceled check reports, donation slips etc. You loan office might want to see them. It's always better to be prepared.

4. A new house does not save a marriage.

This is a common mistake. Do not buy a house, if your marriage is on rocky ground, hoping that it willhelp you solve your problems. It might help, it might not. The added financial load may just create a more stressful environment.

5. Seek professional advice if in doubt.

If in doubt, ask questions. Seek the help of real estate professionals or financial advisers. These peoplehave the experience and skills to help you make the right decisions.