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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