There are five things to think about when you need a mortgage!

  1. Your down payment is important.  A ten percent down will make your mortgage one that Fannie Mae and Freddie Mac will purchase.
  2. What's the score?  Do you want the best interest rates?  Then you need a credit score of 720 or better!  The lower your score, the greater you interest rate.
  3. Government Insured?  Check out government insured loans like FHA or VA.  Do this especially if you have less than great credit scores.
  4. Get it together!  Lenders now need lots of proof that you can do what you have represented to them.  Have tax, income, checking, and savings information ready.
  5. Pay Up!  Reduce all debt so that your mortgage payment is less than 43% of your gross income.

Rates are great and there are homes a plenty!  Call me for more information on mortgages or homes.