Getting a mortgage is one of the most important financial decisions you will take in your lifetime. There are many mortgage products to choose from and not all will suit your personal circumstances. so, how can i assure that I am in the right path?
This mortgage will definitely be helping you to establish your home investment. But before you decide to take a mortgage, better prepare yourself on all aspects; be prepared physically, mentally and especially financially because if you’re not prepare, it can cause you stress.
Please keep in mind that a mortgage is designed for the LENDER to profit, so beware…
Before purchasing a house and putting mortgage weight on your shoulders, you need do know if this is what you want and can you even do it.
First thing, you need to have before applying for a loan, is down payment. If you weren’t saving for a down payment then you probably can’t get a loan, unless you are eligible for certain type of VA loan. You also need to have good credit score, stable income and not much debt. Second thing is that you have to know if you will be able to afford monthly mortgage payments.
And third thing, start putting paper work together, so are ready when time comes.