What I Need to Know Before Applying My First Home Mortgage?
Personal Finance
jeneral asked:
i have a problem.i want make home mortgage but i dont know information about that.so what I need to know before applying my first home mortgage?
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i have a problem.i want make home mortgage but i dont know information about that.so what I need to know before applying my first home mortgage?
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November 28th, 2008 at 9:47 pm
Before applying for your first home mortgage loan you will want to shop around and see what average home mortgage loan rates are. Shopping for home mortgage rates online is a timesaver and frequently have lower rates as well. Your home mortgage rate will affect how much money you have to pay back over the term of the loan, so the lower the better
Reffer here for tips before make first home morgage
November 29th, 2008 at 3:35 am
you must have clean credit for not less than 1 year
pay off any bad debts if you have some
Have the required down payment in the bank as well as closing cost
get pre-approved by a lender or broker
go house shopping with a realtor that a friend or family member recommends
make an offer
get the offer accepted
wait for final approval
close
move
Sounds easy but I also tell my clients I prefer ta ht they have an emergency fund in place with 6 months living expenses that are used for True emergency’s then replaced asap as Life happens to all of us
December 1st, 2008 at 4:44 am
In addition to the first answer, other Information you should have is your yearly income and a list of your debts (all of them).