ComputerHunter.org

 

Rates May Be Rising: Mortgage And Refinancing Preparation Made Simple For You


Buying a home is probably the single largest investment most people make in a lifetime. By preparing yourself and your credit before a home purchase or refinance, you can ensure a smooth finance process and can potentially save thousands on your loan. Improve your financial profile now so you can take advantage of the low interest rates before they disappear.

Start by checking your credit

  • To get the best possible mortgage rate, make sure your credit history is healthy and accurate. Aim to raise your credit score above 650 in order to qualify for most prime loans.

  • If your credit score is not quite 650, focus your efforts on paying bills on time, reducing your debt balances, avoiding new inquiries and clearing negative inaccuracies from your credit report.

  • Make sure the information on your report is correct and fix any problems you discover. Give yourself 30-90 days for correcting inaccuracies. You can learn more online in the Credit Learning Center http://www.legalhelper.ws/credit-reports-online.aspx.

  • Found an error while reviewing your credit with the lender? Ask about the "rapid rescoring" process where you can submit a dispute and potentially improve your credit in 72 hours.

Figure out how much you can afford

  • The rule of thumb is that most borrowers can afford a home that runs about two-and-one-half times their annual salary.

  • Calculate your loan-to-value ratio to see how much you can afford to borrow by dividing the loan amount by the property's value. If your loan-to-value ratio is above 80 percent your rates may increase significantly. Find a less expensive home or save up for a down payment to lower this percentage.

  • Calculate your debt-to-income ratio by adding up your monthly debts and dividing by your monthly income. A debt-to-income ratio under 20-39 percent is usually considered good and will help you be perceived as financially stable.

  • Don't be afraid to start small. Just because you may qualify for a large loan doesn't mean that it is a smart financial decision to buy as large a home as possible. Take a careful look at your family budget and your housing needs before you decide how much you can really afford.

Be a smart borrower this summer and save thousands by preparing your credit before you apply for a loan. Find out the loan rate you deserve at http://www.legalhelper.ws/credit-reports-online-service7.aspx.

About The Author

Jeffrey Broobin is a financial security specialist that helps people to solve their financial issues and be happy and successful within their life.

Website - www.legalhelper.ws

Email: jeffreyb@legalhelper.ws







Google News - Top Stories

ABC News

Dow Plunges 680 Points as Recession Is Declared
New York Times - 43 minutes ago
By MICHAEL M. GRYNBAUM The evidence of a recession has been widespread for months: slower production, stagnant wages and hundreds of thousands of lost jobs.
Down we go again: Fourth-worst drop ever for Dow Forbes
Dow drops nearly 680 on consumer spending worries guardian.co.uk
International Herald Tribune - TIME - China Daily - Gant Daily
all 1,349 news articles


ABC News

Obama Unveils His National Security Team
New York Times - 3 hours ago
President-elect Barack Obama presented his national security team at a news conference in Chicago on Monday. By DAVID STOUT WASHINGTON - President-elect Barack Obama called for “a new dawn of American leadership” on Monday as he formally introduced his ...
Video: Obama names Clinton US secretary of state AlJazeeraEnglish
Obama unveils national security team Kansas City Star
NECN - Newsweek - Detroit Free Press - ABC News
all 4,143 news articles


CTV.ca

Autopsy confirms Wal-Mart worker was 'trampled to death,' says ...
New York Daily News - 51 minutes ago
BY OREN YANIV, NICOLE BODE AND DAVE GOLDINER A frenzied crowd of shoppers gathers moments before a Long Island Wal-Mart would open and a worker was trampled to death.
Autopsy Shows Wal-Mart Worker Trampled to Death FOXNews
Worker 'was trampled to death' Newsday
San Diego Union Tribune - New York Times - Minnesota Independent - WCBS-TV New York
all 2,576 news articles


ABC News

More Indian Officials Quit in Aftermath of Attacks
Washington Post - 9 hours ago
By Rama Lakshmi NEW DELHI, Dec. 1 -- More top Indian officials resigned on Monday in the wake of last week's terror attacks in Mumbai, while the US and Indian governments stepped up pressure on Pakistan to cooperate in investigating responsibility for ...
Video: Bodies Removed From Mumbai Hotel AssociatedPress
Mumbai attackers linked to ‘global jihad’ Daily Times
Telegraph.co.uk - BBC News - Bloomberg - منظمة هيومان رايتس ووتش - حقوق الانسان
all 3,285 news articles


Rocky Mountain News

Bush loosening up on his legacy
International Herald Tribune - 2 hours ago
AP WASHINGTON: President George W. Bush says history will judge him, but he is getting his own crack first. Bush is using his final 50 days in office to tout his legacy, hoping to leave a lasting impression of overshadowed progress.
President Bush announces anti-AIDS efforts reaching two million Catholic News Agency
Obama praises Bush efforts against AIDS FOXNews
Monsters and Critics.com - AHN - ToTheCenter.com - USA Today
all 637 news articles

Google
 

Copyright 2006 Computer Hunter - A Division of Arthur´s Job Base