Do you have a steady job and decided the time is right to buy? Check these tips before you venture out to your mortgage broker, and you’ll be ahead of the game!
Check your credit report
Lenders will check your credit when you apply for a mortgage loan. To get the best possible rates, monitor it closely to prove your creditworthiness. Make sure it is accurate, and no one else is getting access, possibly harming your scores.
Dispute any inaccuracies
Once you have access to your credit report, you’ll see how you’re doing. If any inaccuracies appear with the three credit bureaus, dispute them to get cleared up. Also, if your debt-to-credit ratio is high, start by consolidating your credit cards, if any, or pay off particular debt if possible. Monitoring your score over time allows you to address certain accounts that aren’t yours and take immediate steps to investigate an identity fraud.
Do your homework
When you purchase a home, you’re also making a long term financial commitment. You can make a consultation with a Pacific Lending Group representative to find the best loans and rates.
What property can you afford
To become a Homeowner is a goal that everyone has, but keep in mind that being realistic with what you can afford is a must. Rates that require a 20% down payment are very common based on market calculations, so If you only have 5% of the asking value, look for a home that you can afford or a first-time owner assistance program if you qualify. Our company can figure your calculations and keep you on a rate that you’ll be able to afford.
How lenders work
Lenders base much of their decisions on your credit score. Your loan amounts and rates depend on your credit score. The higher your credit score, the more feasible to get the amount and rate you desire.
At Pacific Lending Group
Have confidence in your ability to pay back the loan by preparing ahead of time. At Pacific Lending Group, we offer expert credit analysis, loan programs, and first-time homeowner assistance. We make the loan process easy and find the best rates and approved in as little as 24 hours. Fill our online application HERE
Call us at 954-227-4727