Pre-Qualify For Your Mortgage
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Check Your Credit Without Affecting Your FICA Scores!
It is always good to know what is on your credit report before you apply
for that loan. Make sure your rating is yours and not someone else's bad
credit misplaced on yours. Get a free credit report once a year from each of the nationwide consumer credit reporting companies at www.annualcreditreport.com
You might have an idea of the payment and mortgage you can afford. But
will the bank feel otherwise? It's always best to pre-qualify for a mortgage
so you know exactly how much a financial institution is willing to lend
you.
- In the pre-qualification process, you will find out:
- Exactly how much home you can afford.
- How much cash you will need for the down payment.
- The minimum down payment and advantages to checking into 5/1 arms
vs. 30 year conventional loans. You can afford more house and less payments.
- What the bank feels you can afford for a monthly payment.
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