How To Improve Your Loan Terms
1. Pay off any outstanding balances on your credit cards before applying for your loan.
2. Pay creditors off and ask that they remove your account from any credit history.
3. Rebuild your credit score. (This will help you tremendously, as it will lower your interest rate, down payment requirement and the overall condition of your loan terms.) You will be glad you took the time to correct your credit history and score, as this will allow you to receive better loan terms. With better terms, you will be able to find a mortgage loan that you are confident and comfortable with, which will make paying for your new home much easier to manage.
When To Apply For Your Home Mortgage Loan
Applying for your mortgage loan before you begin shopping is a great option, as this will allow you to be pre-approved for your loan amount and make you 100% aware of your shopping budget. This also allows you to submit offers on the home that you are most interested in without having to wait weeks to see if the lender will approve the amount.
If you are serious about buying your first home we would like to guide you about loan options and terms that may fit your circumstance. Our focus is to create loans that are sustainable for our borrowers so they are set up for homeowner success, now and in the many years to come. Feel free to Contact us today about your options for a new home loan.
