Know your credit score
Your credit score is very tightly tied to the interest rate you are able to obtain with a
mortgage. The better the score, the better the rate you are able to get. It’s a good
idea to not only know your credit score, but also to check your credit history for
accuracy and to fix any of the errors prior to applying for a loan. You can read more
about Understanding Your Credit Score to know exactly what is involved in calculating
Calculate Your Additional Costs
You know how much you can afford for your down payment, but it’s also important to
save enough for the extra costs associated with getting a mortgage. In addition to
home inspection and appraisal costs, most of the extra costs to buying a home come
from the closing costs. In some cases, you can negotiate for the seller to pay some or
all of the closing costs. However, you should still have enough budgeted to cover the
costs without seller assistance.
Determine What Type of Mortgage You Can Manage
We offer a variety of different mortgage products and mortgage types. From fixed or adjustable rate to 10, 15, 20, 25 or 30 year loan terms, we can help you determine which rate and term is right for your budget.
If you have more questions, contact us or get started today.