Boise Financial Services | Financial Help | Get Financial Help Boise Idaho

Financial Services in Boise

Check back soon for a list of Boise IQ approved Financial Service providers. In the mean time, if you find out that you don't yet qualify for a home price you'd like to buy, consider taking the following steps.

Create a budget.

Use receipts and bank account or credit card statements to make a budget that reflects what you have spent over the past few months. This will help you include both expected costs, like groceries and utility bills as well as unexpected costs like car repairs.

Decrease your debt.

One of the factors upon which loan approval is given is called DTI (debt-to-income ratio). To lower this ratio, focus on anything that requires monthly payment—car loans, credit card balances, student loans. Aim to get these payments—excluding your housing payment—to between 8 and 10 percent of your monthly income.

Find new ways to save.

By writing down all your expenses for one month, you may find that little expenses are adding up. By analyzing your spending carefully, you may find simple ways to make a big difference. Cutting out coffee drinks and eating in more often can really add up.

Increase your income.

Do you feel comfortable asking for a raise? If so, do it. You can also consider a second job to raise your income level.

Save for your down payment.

Decide on a certain amount to set aside each month and if your bank allows, have it automatically transferred from your checking account to your savings account.

Keep your job.

If you have been working at the same job for at least two years, you may qualify for a lower interest rate than if you’ve changed jobs within that timeframe.

Focus on your credit history.

If you don’t have one already, get a credit card and make monthly payments on time. Pay your other bills on time too.

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