For first time buyers, the mortgage loan process can seem complex and confusing. On top of everything else, you need to figure out interest rates, loan terms, fixed versus adjustable rate mortgages, and more. In order to simplify and streamline the process, there are a few things you should look into before you apply for a home loan. Be In The Know It’s a good idea to get a copy of your credit report before you start applying for loans. There is nothing like getting yourself all ready to go house hunting and finding out you won’t qualify for a mortgage. While knowing your credit score won’t tell you for sure if you will get a loan, it can prepare you for what you will be told when you sit down with a mortgage professional. There are plenty of ways to get your hands on a free copy of your credit report, and knowing your credit score will help you know what sort of loan you might qualify for—or if you should wait and improve your credit before you apply. Look Into Special Programs There are a number of government programs for first time home buyers that you should be […]
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