4 Your Mortgage
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Home Mortgage
With record low prices and low interest rates still, first time buyers have a great opportunity to own there own home, do beware though you now need excellent credit score to get approved so stay on top of your finances.
Even now the tax credit has expired sales at the current prices mean you can afford to buy not only foreclosed homes but new homes represent a great deal right now.
Even now the tax credit has expired sales at the current prices mean you can afford to buy not only foreclosed homes but new homes represent a great deal right now.
Get Preapproved
Getting a mortgage can be difficult these days. So when shopping for a new home, it helps to be preapproved before you start your search or make an offer to a seller.
A preapproved mortgage means that a lender has already reviewed your
income, credit and assets to verify that you can qualify for the mortgage you’re
seeking. It shows a seller that you’re serious about buying a home and can
deliver on your purchase offer, which puts you in a better position to
negotiate.
Getting preapproved means you’ve passed a higher level of lender scrutiny
than someone who’s simply been prequalified. The latter simply means the lender
thinks you ought be able to qualify for a mortgage, based on your finances as
you describe them. A preapproval means the lender has confirmed it.
Make sure you are in control of your finances and above all know and take control of your credit score make sure prior and during the loan approval process you make no large financial credit purchases. 