Archives for December 2016
Most people will never own a home without the help of a mortgage. They can be a bit confusing and overwhelming if you don’t know a lot about them, though. Do not get too overwhelmed, learn all you can by reading the following information. You’ll be extremely happy you did.
Avoid accepting the largest loan amount for which you qualify. The amount of loan you qualify on is based solely on your gross salary. Consider your lifestyle and the amount of money you need to really be content.
Since the rules under this program allow for flexibility when the homeowner is under water, you may be able to refinance the terms of the existing mortgage. These new programs make it a lot easier for homeowners to refinance their mortgage. If you qualify to refinance your current mortgage, you may improve your credit score and get a lower interest rate.
While you’re waiting for the closing on your preapproved mortgage, don’t go on any shopping sprees! The credit is rechecked after several days before the mortgage is actually finalized. Any furniture buying, as well as any other expensive item or project, needs to wait until your mortgage contract is signed and a done deal.… [Read More]