Tuesday, April 11, 2017

Life-Changing Tips to Consider When Securing a Mortgage for Real Estate

Before you can acquire the home of your dreams, you’ll need to weigh your financial options first. At the top of your list should be securing a mortgage, but how do you get the best rate possible? It starts with taking proactive steps and making sure you are well qualified.

Show Employment Stability

Mortgage lenders prefer people who have employment stability, as this shows you can pay for the monthly payments on a consistent basis. If there are gaps in your work history, try to hold down a job for as long as possible before applying for a mortgage. This shows you are financially responsible and capable of affording monthly mortgage payments. You’ll probably need a couple years of financial data.

Showing employment stability can be somewhat difficult if you are self-employed, as you may have jobs that come and go. Some mortgage vendors may actually require you to pay more because of the increased lender risk. Read more on this article: http://bit.ly/2oEFyIz

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