Tips when shopping for a mortgage!

Tips when shopping for a mortgage!
Given the ongoing fluctuations and uncertainties in the housing market, it's important to use these tips when shopping for a mortgage.

✅ Understand your credit score. See if there are ways to improve your credit score. If you can raise your score, it will help you get a lower mortgage rate which means lower mortgage payments.

✅ Meet with lenders. Getting to know lenders and what loans you potentially qualify for will put you in a stronger position once you are prepared to purchase a home. Shop around online, by phone or in-person at a branch location to find the best mortgage lender for you.

✅ Review your financial situation. Review your monthly debt payments against your usual income to determine a comfortable monthly payment amount so you know how much home you can afford. You may discover you have to expand your search to locations with lower home prices.

✅ Use a mortgage calculator. Once you have a sense of the types of loans you qualify for, calculate your estimated monthly payments, punch in your numbers into calculators such as a 30-year fixed mortgage calculator, 15-year fixed mortgage calculator, FHA loan calculator or mortgage amortization calculator.

✅ Manage your money. Use this time to save money toward your down payment. The more you can put down on a home, the smaller the loan you will need and the less you will pay overall for a mortgage.

Looking to buy or sell your home? Call me today!
Gary "Mr. Action" Fayerman
(403) 620-2800

#mortgagelender #mortgagetips #mortgage101 #mortgagelenders #homebuyingprocess #homebuying #creditscore #buyahomewithme #homebuyers #homebuyer #firsttimehomebuyer #homebuying #homesearch #househunting #downpayment #downpaymentassistanceprograms


No comments

Post Your Comment:

Your email will not be published
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.