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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How much house can you afford? Two easy ways to tell.

How much house can you afford? Two easy ways to tell.


Buying your first home is an exciting process, but it’s not just about finding the features you want. If you’re like most people, price plays a major role in your decision. After all, even if you feel confident that you can afford a property, you’ll still have to convince a lender.
All lenders have unique lending guidelines, but they usually include some of the same key benchmarks. Here are two metrics they’ll use to decide how large a loan to issue you:


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