We all know the importance of a good credit score when it comes to buying a home. So here are 6 action steps you can take to improve your credit score: First-time home buyers with bad credit have options. That three-digit credit score and credit report can make the difference between being granted a loan for a house and being flat out rejected. Why? Because our credit report tells a financial story of us as payers of debt; and it has a long memory. Few