There are a number of factors to consider here -
Good question - smart Buyers keep up to date on rates (sometimes they can change quickly!) Check out the latest info on a variety of different Mortgage Programs. If you notice rates increasing as the days go by, the best time to apply may be passing you by (it may be a good time to make your application).
We can calculate any Mortgage Payment you want. There are a variety of different mortgage calulators to choose from! Choose the one that fits YOUR needs!
Whichever you feel best meets YOUR needs! Consider the following -
Again, please consult your accountant/financial advisor.
Absolutely! It is surprising how many credit reports are wrong! (over 40% by some estimates !). You may avoid de-railing your transaction with a time-consuming credit hassle by reviewing the report up front. This way, the Seller has more confidence that you are a qualified Buyer. (Scroll up to the "get prequalified" question above for more details) You can order a copy of your own credit report by calling the three major credit reporting agencies: Experian at (800) 392-1122, Equifax at (800) 685-1111 and Trans Union at (312) 408-1050.
In many, if not most, cases the answer is YES! One of the keys is credit previewing - so you discover the irregularities upfront. This way, your explanation can be well thought out, documented, and packaged in the best way to allay the Lender's understandable concerns. Some useful tools to repair or overcome poor credit are - providing additional documentation; outlining new "compensating factors" (large downpayment; substantial net worth; likely job advancement; etc); correcting mistakes; letters of explanation; etc.
To find out more about our mortgage services, please call us at 800.383.3535 or click here to contact us!
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215 S. Centerville Road
Lancaster, PA 17603
Licensed In Maryland and Pennsylvania