SlideShare une entreprise Scribd logo
1  sur  17
Télécharger pour lire hors ligne
How to Get the
Best Mortgage for Your Salary
Though interest rates are near
all-time lows, finding the right
mortgage can still be a tricky process.
Using these tips to shop for a
mortgage will save you time and
money in the process.
Review your credit report
once a year.
Lenders use your credit score as one of the main factors in
determining if you will get approved for a loan.
Spruce up your score at least six
months before applying for a loan.
Avoid big purchases that put your finances in jeopardy and
say “No” to opening any more lines of credit.
Work on improving your
debt-to-income ratio.
This is the amount of money you make versus how much you owe.
Either reduce your debt or
increase your income.
Pay off your loans completely or start contributing more
toward monthly credit card payments.
Plan for a big down payment.
Most loans require a down payment of 5 to 20%
of your future home’s price.
Remember: The bigger your down
payment, the more you’ll save (usually).
Perks often include lower interest rates and more attractive closing fees.
Ask yourself:
How long will I live here?
If it’s only a few years, a hybrid loan nets you a lower interest
rate than a typical 30-year mortgage.
Lower your overall risk with a
15- or 30-year-fixed mortgage option.
No one can predict the future – interest rates could spike or the housing
market could change. If you aren’t comfortable with unknowns,
a more traditional plan may be best.
Fast-track your search by requesting
online quotes from local lenders.
Provide each lender with the exact same information and
compare the rates they send back to you.
How many bedrooms?
Do your children have separate bedrooms or share? You may consider
looking at homes with a spare bedroom to grow into.
Look for lenders who are verified,
licensed and highly recommended.
Lenders on Zillow have a 4.9/5 average customer rating
and an average of 16 years of experience.
Choose the one lender you
feel most comfortable with.
Call or meet in person before committing – you’re going
to be working closely with them for a while.
Lock in your interest rate
when you feel confident.
Opt to lock in your rate immediately after your application is finished or float your rate until you’re
ready to close. You could end up paying less if the market is in a better spot, but it’s a gamble.
The No. 1 rule for
mortgage success…
Enter into the process well-prepared and confident.
You’re about to buy a house!
Questions about your mortgage?
Get help from a local lender today –
often within minutes.
Talk to a Lender Now

Contenu connexe

Tendances

Principal Reduction - FloridaPrincipalReduction.com
Principal Reduction - FloridaPrincipalReduction.comPrincipal Reduction - FloridaPrincipalReduction.com
Principal Reduction - FloridaPrincipalReduction.comtomvnguyen
 
The cost of payday loan
The cost of payday loanThe cost of payday loan
The cost of payday loanQuiddi Compare
 
Home loan article
Home loan articleHome loan article
Home loan articleAHFCL25
 
Owning vs. Renting a Home - It's a Money Thing
Owning vs. Renting a Home - It's a Money Thing Owning vs. Renting a Home - It's a Money Thing
Owning vs. Renting a Home - It's a Money Thing Tim McAlpine
 
10 Excellent Mortgage Tips
10 Excellent Mortgage Tips10 Excellent Mortgage Tips
10 Excellent Mortgage TipsJoe Raquiza
 
How real estate investments return profits confidential
How real estate investments return profits confidentialHow real estate investments return profits confidential
How real estate investments return profits confidentialSean Tarpenning
 
5 Steps to Saving a Down Payment
5 Steps to Saving a Down Payment5 Steps to Saving a Down Payment
5 Steps to Saving a Down PaymentJean Zuhl
 
Apr Can Cost You
Apr Can Cost YouApr Can Cost You
Apr Can Cost Youguesteddc98
 
Budgeting Basics - It's a Money Thing
Budgeting Basics - It's a Money ThingBudgeting Basics - It's a Money Thing
Budgeting Basics - It's a Money ThingTim McAlpine
 
Unit 5b Mortgage features
Unit 5b Mortgage featuresUnit 5b Mortgage features
Unit 5b Mortgage featuresAndrew Hingston
 
Pay Yourself First - It's a Money Thing
Pay Yourself First - It's a Money ThingPay Yourself First - It's a Money Thing
Pay Yourself First - It's a Money ThingTim McAlpine
 
Essential Questions to Ask When Considering Selling vs. Renting
Essential Questions to Ask When Considering Selling vs. RentingEssential Questions to Ask When Considering Selling vs. Renting
Essential Questions to Ask When Considering Selling vs. RentingCenter Street Lending
 
Here is how you can beat the interest
Here is how you can beat the interestHere is how you can beat the interest
Here is how you can beat the interestAnisha Sachit
 
The rent vs. buy epiphany
The rent vs. buy epiphanyThe rent vs. buy epiphany
The rent vs. buy epiphanyPraveen Singh
 
Strategies for Debt Repayment
Strategies for Debt RepaymentStrategies for Debt Repayment
Strategies for Debt RepaymentTim McAlpine
 
Transitioning From a Standard Mortgage to a Reverse Mortgage | Jack M. Guttentag
Transitioning From a Standard Mortgage to a Reverse Mortgage | Jack M. GuttentagTransitioning From a Standard Mortgage to a Reverse Mortgage | Jack M. Guttentag
Transitioning From a Standard Mortgage to a Reverse Mortgage | Jack M. Guttentagmortgagelender471
 
Easy Solutions to Personal Finance That are Simple To Follow
Easy Solutions to Personal Finance That are Simple To FollowEasy Solutions to Personal Finance That are Simple To Follow
Easy Solutions to Personal Finance That are Simple To FollowVision Payroll
 

Tendances (19)

Principal Reduction - FloridaPrincipalReduction.com
Principal Reduction - FloridaPrincipalReduction.comPrincipal Reduction - FloridaPrincipalReduction.com
Principal Reduction - FloridaPrincipalReduction.com
 
The cost of payday loan
The cost of payday loanThe cost of payday loan
The cost of payday loan
 
Home loan article
Home loan articleHome loan article
Home loan article
 
Owning vs. Renting a Home - It's a Money Thing
Owning vs. Renting a Home - It's a Money Thing Owning vs. Renting a Home - It's a Money Thing
Owning vs. Renting a Home - It's a Money Thing
 
10 Excellent Mortgage Tips
10 Excellent Mortgage Tips10 Excellent Mortgage Tips
10 Excellent Mortgage Tips
 
How real estate investments return profits confidential
How real estate investments return profits confidentialHow real estate investments return profits confidential
How real estate investments return profits confidential
 
5 Steps to Saving a Down Payment
5 Steps to Saving a Down Payment5 Steps to Saving a Down Payment
5 Steps to Saving a Down Payment
 
Apr Can Cost You
Apr Can Cost YouApr Can Cost You
Apr Can Cost You
 
Economic Crisis
Economic CrisisEconomic Crisis
Economic Crisis
 
Budgeting Basics - It's a Money Thing
Budgeting Basics - It's a Money ThingBudgeting Basics - It's a Money Thing
Budgeting Basics - It's a Money Thing
 
Unit 5b Mortgage features
Unit 5b Mortgage featuresUnit 5b Mortgage features
Unit 5b Mortgage features
 
Pay Yourself First - It's a Money Thing
Pay Yourself First - It's a Money ThingPay Yourself First - It's a Money Thing
Pay Yourself First - It's a Money Thing
 
Essential Questions to Ask When Considering Selling vs. Renting
Essential Questions to Ask When Considering Selling vs. RentingEssential Questions to Ask When Considering Selling vs. Renting
Essential Questions to Ask When Considering Selling vs. Renting
 
Here is how you can beat the interest
Here is how you can beat the interestHere is how you can beat the interest
Here is how you can beat the interest
 
The rent vs. buy epiphany
The rent vs. buy epiphanyThe rent vs. buy epiphany
The rent vs. buy epiphany
 
Strategies for Debt Repayment
Strategies for Debt RepaymentStrategies for Debt Repayment
Strategies for Debt Repayment
 
Debt Shrink Principle
Debt Shrink PrincipleDebt Shrink Principle
Debt Shrink Principle
 
Transitioning From a Standard Mortgage to a Reverse Mortgage | Jack M. Guttentag
Transitioning From a Standard Mortgage to a Reverse Mortgage | Jack M. GuttentagTransitioning From a Standard Mortgage to a Reverse Mortgage | Jack M. Guttentag
Transitioning From a Standard Mortgage to a Reverse Mortgage | Jack M. Guttentag
 
Easy Solutions to Personal Finance That are Simple To Follow
Easy Solutions to Personal Finance That are Simple To FollowEasy Solutions to Personal Finance That are Simple To Follow
Easy Solutions to Personal Finance That are Simple To Follow
 

En vedette

Top 5 Reasons to Buy vs. Rent
Top 5 Reasons to Buy vs. RentTop 5 Reasons to Buy vs. Rent
Top 5 Reasons to Buy vs. RentZillow
 
The top 10 most liveable suburbs in Australia right now
The top 10 most liveable suburbs in Australia right nowThe top 10 most liveable suburbs in Australia right now
The top 10 most liveable suburbs in Australia right nowHome Loan Experts
 
Real estate trends in 2016
Real estate trends in 2016Real estate trends in 2016
Real estate trends in 2016Square Yards
 
Top 10 Reasons why Buyers Cancel Escrow in Real Estate
Top 10 Reasons why Buyers Cancel Escrow in Real EstateTop 10 Reasons why Buyers Cancel Escrow in Real Estate
Top 10 Reasons why Buyers Cancel Escrow in Real EstateConnor T. MacIVOR
 
Mauricius - Bois Chéri - tea factory - 2 (2012)
Mauricius - Bois Chéri - tea factory - 2 (2012)Mauricius - Bois Chéri - tea factory - 2 (2012)
Mauricius - Bois Chéri - tea factory - 2 (2012)Marcela D
 
Now and then movie actors and actresses.
Now and then movie actors and actresses.Now and then movie actors and actresses.
Now and then movie actors and actresses.Paulo Bergamasco
 
Tata Eden Court Phase 2 – New Housing Project at Kolkata Call 9555666555
Tata Eden Court Phase 2 – New Housing Project at Kolkata Call 9555666555Tata Eden Court Phase 2 – New Housing Project at Kolkata Call 9555666555
Tata Eden Court Phase 2 – New Housing Project at Kolkata Call 9555666555Pankaj Negi
 
The 7 deadly sins of real estate agents
The 7 deadly sins of real estate agentsThe 7 deadly sins of real estate agents
The 7 deadly sins of real estate agentsConnor T. MacIVOR
 

En vedette (14)

Top 5 Reasons to Buy vs. Rent
Top 5 Reasons to Buy vs. RentTop 5 Reasons to Buy vs. Rent
Top 5 Reasons to Buy vs. Rent
 
The top 10 most liveable suburbs in Australia right now
The top 10 most liveable suburbs in Australia right nowThe top 10 most liveable suburbs in Australia right now
The top 10 most liveable suburbs in Australia right now
 
Real estate trends in 2016
Real estate trends in 2016Real estate trends in 2016
Real estate trends in 2016
 
Презентация проекта нового здания НГОНБ
Презентация проекта нового здания НГОНБПрезентация проекта нового здания НГОНБ
Презентация проекта нового здания НГОНБ
 
Top 10 Reasons why Buyers Cancel Escrow in Real Estate
Top 10 Reasons why Buyers Cancel Escrow in Real EstateTop 10 Reasons why Buyers Cancel Escrow in Real Estate
Top 10 Reasons why Buyers Cancel Escrow in Real Estate
 
Clarity Welcome booklet
Clarity Welcome bookletClarity Welcome booklet
Clarity Welcome booklet
 
Bled
BledBled
Bled
 
Mauricius - Bois Chéri - tea factory - 2 (2012)
Mauricius - Bois Chéri - tea factory - 2 (2012)Mauricius - Bois Chéri - tea factory - 2 (2012)
Mauricius - Bois Chéri - tea factory - 2 (2012)
 
Models Underwater
Models UnderwaterModels Underwater
Models Underwater
 
Now and then movie actors and actresses.
Now and then movie actors and actresses.Now and then movie actors and actresses.
Now and then movie actors and actresses.
 
Reverse Mortgage Seminar
Reverse Mortgage SeminarReverse Mortgage Seminar
Reverse Mortgage Seminar
 
Tata Eden Court Phase 2 – New Housing Project at Kolkata Call 9555666555
Tata Eden Court Phase 2 – New Housing Project at Kolkata Call 9555666555Tata Eden Court Phase 2 – New Housing Project at Kolkata Call 9555666555
Tata Eden Court Phase 2 – New Housing Project at Kolkata Call 9555666555
 
The 7 deadly sins of real estate agents
The 7 deadly sins of real estate agentsThe 7 deadly sins of real estate agents
The 7 deadly sins of real estate agents
 
OT 아가페 부분
OT 아가페 부분 OT 아가페 부분
OT 아가페 부분
 

Similaire à How to Get the Best Mortgage for Your Salary

First Time Homebuyer's Seminar, by Tom Sparks from Sierra Financial, Inc.
First Time Homebuyer's Seminar, by Tom Sparks from Sierra Financial, Inc.First Time Homebuyer's Seminar, by Tom Sparks from Sierra Financial, Inc.
First Time Homebuyer's Seminar, by Tom Sparks from Sierra Financial, Inc.tomsparks7
 
Copy Of Fthb Presentation2
Copy Of Fthb Presentation2Copy Of Fthb Presentation2
Copy Of Fthb Presentation2peglover
 
First Time Homebuyer Presentation
First Time Homebuyer PresentationFirst Time Homebuyer Presentation
First Time Homebuyer Presentationsmcalder
 
First Time Home Buyer Presentation
First Time Home Buyer PresentationFirst Time Home Buyer Presentation
First Time Home Buyer Presentationvhovsepian
 
15 top ways to save money
15 top ways to save money15 top ways to save money
15 top ways to save moneyMeigo Jurioo
 
15 top ways to save money
15 top ways to save money15 top ways to save money
15 top ways to save moneySylviaDsouza8
 
15 top ways_to_save_money
15 top ways_to_save_money15 top ways_to_save_money
15 top ways_to_save_moneyambikabebni
 
Best ways to save money
Best ways to save moneyBest ways to save money
Best ways to save moneyviditgrover3
 
201503_cfpb_your-home-loan-toolkit-web
201503_cfpb_your-home-loan-toolkit-web201503_cfpb_your-home-loan-toolkit-web
201503_cfpb_your-home-loan-toolkit-webJulie Vore
 
cfpb_your-home-loan-toolkit-web
cfpb_your-home-loan-toolkit-webcfpb_your-home-loan-toolkit-web
cfpb_your-home-loan-toolkit-webTroy Mack
 
How Come You Pay Those Excessive Rates Of Interest For Bad Credit Home Loans?
How Come You Pay Those Excessive Rates Of Interest For Bad Credit Home Loans?How Come You Pay Those Excessive Rates Of Interest For Bad Credit Home Loans?
How Come You Pay Those Excessive Rates Of Interest For Bad Credit Home Loans?sharewitme
 
A Specialty Mortgage
A Specialty MortgageA Specialty Mortgage
A Specialty Mortgagebbyluvsboo
 
2016 Simple Mortgage Guide
2016 Simple Mortgage Guide2016 Simple Mortgage Guide
2016 Simple Mortgage GuideBrianHenryTO
 
Re max results buyers guide
Re max results buyers guideRe max results buyers guide
Re max results buyers guideChris Lockard
 

Similaire à How to Get the Best Mortgage for Your Salary (20)

fthb-presentation-072215
fthb-presentation-072215fthb-presentation-072215
fthb-presentation-072215
 
Buying A Home
Buying A HomeBuying A Home
Buying A Home
 
First Time Homebuyer's Seminar, by Tom Sparks from Sierra Financial, Inc.
First Time Homebuyer's Seminar, by Tom Sparks from Sierra Financial, Inc.First Time Homebuyer's Seminar, by Tom Sparks from Sierra Financial, Inc.
First Time Homebuyer's Seminar, by Tom Sparks from Sierra Financial, Inc.
 
Copy Of Fthb Presentation2
Copy Of Fthb Presentation2Copy Of Fthb Presentation2
Copy Of Fthb Presentation2
 
First Time Homebuyer Presentation
First Time Homebuyer PresentationFirst Time Homebuyer Presentation
First Time Homebuyer Presentation
 
First Time Home Buyer Presentation
First Time Home Buyer PresentationFirst Time Home Buyer Presentation
First Time Home Buyer Presentation
 
15 top ways to save money
15 top ways to save money15 top ways to save money
15 top ways to save money
 
15 top ways to save money
15 top ways to save money15 top ways to save money
15 top ways to save money
 
15 top ways_to_save_money
15 top ways_to_save_money15 top ways_to_save_money
15 top ways_to_save_money
 
Mortgage Buyers Guide
Mortgage Buyers GuideMortgage Buyers Guide
Mortgage Buyers Guide
 
Best ways to save money
Best ways to save moneyBest ways to save money
Best ways to save money
 
Your home loan toolkit_ A step-by-step guide
Your home loan toolkit_ A step-by-step guideYour home loan toolkit_ A step-by-step guide
Your home loan toolkit_ A step-by-step guide
 
201503_cfpb_your-home-loan-toolkit-web
201503_cfpb_your-home-loan-toolkit-web201503_cfpb_your-home-loan-toolkit-web
201503_cfpb_your-home-loan-toolkit-web
 
cfpb_your-home-loan-toolkit-web
cfpb_your-home-loan-toolkit-webcfpb_your-home-loan-toolkit-web
cfpb_your-home-loan-toolkit-web
 
How Come You Pay Those Excessive Rates Of Interest For Bad Credit Home Loans?
How Come You Pay Those Excessive Rates Of Interest For Bad Credit Home Loans?How Come You Pay Those Excessive Rates Of Interest For Bad Credit Home Loans?
How Come You Pay Those Excessive Rates Of Interest For Bad Credit Home Loans?
 
New home buyers
New home buyersNew home buyers
New home buyers
 
A Specialty Mortgage
A Specialty MortgageA Specialty Mortgage
A Specialty Mortgage
 
2016 Simple Mortgage Guide
2016 Simple Mortgage Guide2016 Simple Mortgage Guide
2016 Simple Mortgage Guide
 
Re max results buyers guide
Re max results buyers guideRe max results buyers guide
Re max results buyers guide
 
Refinance strategies
Refinance strategiesRefinance strategies
Refinance strategies
 

Dernier

K Raheja Amaltis Sion Mumbai | A Return To Better Living
K Raheja Amaltis Sion Mumbai | A Return To Better LivingK Raheja Amaltis Sion Mumbai | A Return To Better Living
K Raheja Amaltis Sion Mumbai | A Return To Better Livingaidasheikh47
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedTom Blefko
 
Provident Manchester IVC Road Bangalore.pdf
Provident Manchester IVC Road Bangalore.pdfProvident Manchester IVC Road Bangalore.pdf
Provident Manchester IVC Road Bangalore.pdfashiyadav24
 
Anshul Uruli Kanchan Pune E-Brochure.pdf
Anshul Uruli Kanchan Pune  E-Brochure.pdfAnshul Uruli Kanchan Pune  E-Brochure.pdf
Anshul Uruli Kanchan Pune E-Brochure.pdfManishSaxena95
 
Mantra Akrudi Pune | Lifestyle Amenities Rethink Luxury
Mantra Akrudi Pune | Lifestyle Amenities Rethink LuxuryMantra Akrudi Pune | Lifestyle Amenities Rethink Luxury
Mantra Akrudi Pune | Lifestyle Amenities Rethink Luxuryaidasheikh47
 
2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and Sellers2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and SellersTom Blefko
 
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdfKohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdfmonikasharma630
 
AIPL Joy District Sector 88, In Gurgaon.pdf
AIPL Joy District  Sector 88,  In Gurgaon.pdfAIPL Joy District  Sector 88,  In Gurgaon.pdf
AIPL Joy District Sector 88, In Gurgaon.pdfbhattrishabh270
 
Anshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdfAnshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdfsabhyara24
 
Signature Global Sector 84 In Gurugram | Easy Living
Signature Global Sector 84 In Gurugram | Easy LivingSignature Global Sector 84 In Gurugram | Easy Living
Signature Global Sector 84 In Gurugram | Easy Livingbhattrishabh270
 
10 Best Property Dealers in Mohali - List Real Estate Property Agents
10 Best Property Dealers in Mohali - List Real Estate Property Agents10 Best Property Dealers in Mohali - List Real Estate Property Agents
10 Best Property Dealers in Mohali - List Real Estate Property AgentsAJ Estates
 
2023 NAR Technology Survey - LCAR RE Practice
2023 NAR Technology Survey - LCAR RE Practice2023 NAR Technology Survey - LCAR RE Practice
2023 NAR Technology Survey - LCAR RE PracticeTom Blefko
 
Mahindra Lifespaces Kandivali East | Expansive spaces for your family
Mahindra Lifespaces Kandivali East | Expansive spaces for your familyMahindra Lifespaces Kandivali East | Expansive spaces for your family
Mahindra Lifespaces Kandivali East | Expansive spaces for your familyaidasheikh47
 
Points to Consider Before Finalizing on a Property.
Points to Consider Before Finalizing on a Property.Points to Consider Before Finalizing on a Property.
Points to Consider Before Finalizing on a Property.Sunil Agrawal and Associates
 
3 BHK Flats in Zirakpur for Sale - AJ Estates
3 BHK Flats in Zirakpur for Sale - AJ Estates3 BHK Flats in Zirakpur for Sale - AJ Estates
3 BHK Flats in Zirakpur for Sale - AJ EstatesAJ Estates
 
Top 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate LeadsTop 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate LeadsAaron Stelle
 
SVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property BroadcastSVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property BroadcastSVN International Corp.
 
LCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition RevisedLCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition RevisedTom Blefko
 

Dernier (20)

K Raheja Amaltis Sion Mumbai | A Return To Better Living
K Raheja Amaltis Sion Mumbai | A Return To Better LivingK Raheja Amaltis Sion Mumbai | A Return To Better Living
K Raheja Amaltis Sion Mumbai | A Return To Better Living
 
Things to keep in mind while buying property.
Things to keep in mind while buying property.Things to keep in mind while buying property.
Things to keep in mind while buying property.
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
 
Provident Manchester IVC Road Bangalore.pdf
Provident Manchester IVC Road Bangalore.pdfProvident Manchester IVC Road Bangalore.pdf
Provident Manchester IVC Road Bangalore.pdf
 
Anshul Uruli Kanchan Pune E-Brochure.pdf
Anshul Uruli Kanchan Pune  E-Brochure.pdfAnshul Uruli Kanchan Pune  E-Brochure.pdf
Anshul Uruli Kanchan Pune E-Brochure.pdf
 
Mantra Akrudi Pune | Lifestyle Amenities Rethink Luxury
Mantra Akrudi Pune | Lifestyle Amenities Rethink LuxuryMantra Akrudi Pune | Lifestyle Amenities Rethink Luxury
Mantra Akrudi Pune | Lifestyle Amenities Rethink Luxury
 
2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and Sellers2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and Sellers
 
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdfKohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
 
AIPL Joy District Sector 88, In Gurgaon.pdf
AIPL Joy District  Sector 88,  In Gurgaon.pdfAIPL Joy District  Sector 88,  In Gurgaon.pdf
AIPL Joy District Sector 88, In Gurgaon.pdf
 
Anshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdfAnshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdf
 
Signature Global Sector 84 In Gurugram | Easy Living
Signature Global Sector 84 In Gurugram | Easy LivingSignature Global Sector 84 In Gurugram | Easy Living
Signature Global Sector 84 In Gurugram | Easy Living
 
10 Best Property Dealers in Mohali - List Real Estate Property Agents
10 Best Property Dealers in Mohali - List Real Estate Property Agents10 Best Property Dealers in Mohali - List Real Estate Property Agents
10 Best Property Dealers in Mohali - List Real Estate Property Agents
 
2023 NAR Technology Survey - LCAR RE Practice
2023 NAR Technology Survey - LCAR RE Practice2023 NAR Technology Survey - LCAR RE Practice
2023 NAR Technology Survey - LCAR RE Practice
 
Mahindra Lifespaces Kandivali East | Expansive spaces for your family
Mahindra Lifespaces Kandivali East | Expansive spaces for your familyMahindra Lifespaces Kandivali East | Expansive spaces for your family
Mahindra Lifespaces Kandivali East | Expansive spaces for your family
 
Points to Consider Before Finalizing on a Property.
Points to Consider Before Finalizing on a Property.Points to Consider Before Finalizing on a Property.
Points to Consider Before Finalizing on a Property.
 
3 BHK Flats in Zirakpur for Sale - AJ Estates
3 BHK Flats in Zirakpur for Sale - AJ Estates3 BHK Flats in Zirakpur for Sale - AJ Estates
3 BHK Flats in Zirakpur for Sale - AJ Estates
 
Benefits of buying ready to move in flats.
Benefits of buying ready to move in flats.Benefits of buying ready to move in flats.
Benefits of buying ready to move in flats.
 
Top 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate LeadsTop 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate Leads
 
SVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property BroadcastSVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property Broadcast
 
LCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition RevisedLCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
 

How to Get the Best Mortgage for Your Salary

  • 1. How to Get the Best Mortgage for Your Salary
  • 2. Though interest rates are near all-time lows, finding the right mortgage can still be a tricky process.
  • 3. Using these tips to shop for a mortgage will save you time and money in the process.
  • 4. Review your credit report once a year. Lenders use your credit score as one of the main factors in determining if you will get approved for a loan.
  • 5. Spruce up your score at least six months before applying for a loan. Avoid big purchases that put your finances in jeopardy and say “No” to opening any more lines of credit.
  • 6. Work on improving your debt-to-income ratio. This is the amount of money you make versus how much you owe.
  • 7. Either reduce your debt or increase your income. Pay off your loans completely or start contributing more toward monthly credit card payments.
  • 8. Plan for a big down payment. Most loans require a down payment of 5 to 20% of your future home’s price.
  • 9. Remember: The bigger your down payment, the more you’ll save (usually). Perks often include lower interest rates and more attractive closing fees.
  • 10. Ask yourself: How long will I live here? If it’s only a few years, a hybrid loan nets you a lower interest rate than a typical 30-year mortgage.
  • 11. Lower your overall risk with a 15- or 30-year-fixed mortgage option. No one can predict the future – interest rates could spike or the housing market could change. If you aren’t comfortable with unknowns, a more traditional plan may be best.
  • 12. Fast-track your search by requesting online quotes from local lenders. Provide each lender with the exact same information and compare the rates they send back to you.
  • 13. How many bedrooms? Do your children have separate bedrooms or share? You may consider looking at homes with a spare bedroom to grow into. Look for lenders who are verified, licensed and highly recommended. Lenders on Zillow have a 4.9/5 average customer rating and an average of 16 years of experience.
  • 14. Choose the one lender you feel most comfortable with. Call or meet in person before committing – you’re going to be working closely with them for a while.
  • 15. Lock in your interest rate when you feel confident. Opt to lock in your rate immediately after your application is finished or float your rate until you’re ready to close. You could end up paying less if the market is in a better spot, but it’s a gamble.
  • 16. The No. 1 rule for mortgage success… Enter into the process well-prepared and confident. You’re about to buy a house!
  • 17. Questions about your mortgage? Get help from a local lender today – often within minutes. Talk to a Lender Now