Getting your dream house is often a major hassle in itself — sometimes you’ll find a house you love but it won’t be up for sale, sometimes it’s up for sale but the price is not right, sometimes the price is right but it doesn’t fall in the school district of your preferred school for the kids. However, getting a mortgage shouldn’t be another battle you have to fight in your bid to own a home.
Nonetheless, many people erroneously believe that you must go through a stressful experience in the process of getting a mortgage. They cite the huge paperwork involved and stats on rejection numbers to buttress their pessimistic outlook. However, you can improve your odds of securing a mortgage by preparing in advance before sending in an application.
Prior preparation also makes the lender more willing to work with you; as a result you’ll find the mortgaging process much easier.
With all of that in mind, here are three surefire tips for improving your odds of getting your mortgage application approved:
1. Know your credit score
As strange as it may sound, many potential homeowners don’t take the time to know their credit score before they send it a mortgage application. Many people assume that they are still in good credit standing today because they had an excellent credit score two years ago. However, a couple of oversights on your part, mistakes on the part of your credit card company, or identity theft could do serious damage to your credit score.
Read the article here: http://lenpenzo.com/blog/id39816-3-surefire-tips-for-getting-your-mortgage-loan-approved.html
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