Getting a mortgage can be a hard process. Here are some tips to know to improve your chances of getting a mortgage, including: improving credit rating, paying off debt and avoiding lavish purchases and job changes.
Below are 3 tips to improve your chance of getting a mortgage:
Improving Credit Rating
If you have had serious debt problems in the recent past then you are going to struggle to find a lender willing to take you on, but if your transgressions are more minor you might be able to do something about it.
Getting the best mortgage rate is not an easy process to go through. However, we have some tips you can take to ensure that you are getting the best possible mortgage rate.
Below are 4 tips to get the best mortgage rates:
Start Preparing Early
If you’re looking for a home right now, getting your finances in great shape may be tough.
Thinking about refinancing your mortgage? If so, you may want to consider these 4 common mortgage refinancing mistakes to avoid.
Failing to Do your Basic Homework
Before you call mortgage lenders, do your own basic research, says Jill Buchanan, senior vice president at MIDFLORIDA Credit Union in Lakeland, Florida.
For starters, know your credit score, which is key to determining the rate you will receive.
It can be exciting going through the process of purchasing a new home. However, there are several mistakes everyone should be aware of and avoid at all costs.
Below are 3 mistakes to avoid when buying a new home:
Not Checking Credit Report and Score
You’ve clicked through hundreds of online listings, compared floor plans and square footage, and are eager to jump-start your search.
There are varieties of strategy available for those seeking to reduce the shelf life of a mortgage. Read on to learn about 3 ways to pay off your mortgage early.
An Extra Habit
Each time you pay extra on your mortgage, more of each payment after that is applied to your principal balance. Here are some options for paying extra and examples of how extra payments will affect the average $220,000, 30-year mortgage with a 4% interest rate:Make an extra house payment each quarter, and you’ll save $65,000 in interest and pay off your loan 11 years early.