What should future home buyers know? On today’s episode, we discuss the top 7 mortgage tips out there and how they apply to the home buying process. Don’t let a non-exceptional credit score prevent you from applying for a mortgage. Even with a perfect score, you may be facing higher interest rates in the near future.
Just like when you are shopping for a car, look around and get multiple quotes. If you’re in the process of buying a house or refinancing it’s best to hold off on other big purchases. We explore prequalification versus preapproval, mortgage rates, down payments, and more.
If you have questions about a mortgage or refinancing you can get your 15-minute free consultation with Bill: https://calendly.com/blitton/30min?month=2022-01
0:40 – Non-exceptional credit score
2:33 – Get multiple quotes
4:22 – Don’t make large purchases
6:25 – Prequalification and pre-approval
9:15 – Small increase in mortgage rates
10:30 – Increasing or decreasing down payment
12:05 – Agent and lender communication
QUOTABLE MORTGAGE MOMENT:
“There are cases when saving more money or waiting for one reason or another does have a benefit. But you want to understand if it’s worth it to wait…“