Top 5 Mistakes of Mortgage Shoppers

Top 5 Mistakes of Mortgage Shoppers


Mortgage shopping can be an overwhelming experience for first-time homebuyers, and is not a walk in the park even for the experienced buyer. As you go through the mortgage shopping process, consider these top five errors that can trip up any homebuyer:

1. Not Paying Attention to Your Credit Rating – A poor credit score can result in a higher interest rate, or perhaps not qualifying for a loan at all. Check your credit well before you begin mortgage shopping to allow time for you to fix any errors or repair your credit.
You are able to get one free credit report each year from each of the reporting agencies (Equifax, Experian, and TransUnion). Check the report for any errors or false accounts that could be damaging your credit. However, the free reports do not give


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