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6 steps to getting a good mortgage.
INFORMATIVE 
Tags: money, Online loan, Investing, Loans, real estate
Here are several things you can do to get a good mortgage.
| | The first step should always be to gather accurate information that will be needed for your mortgage application. |
| | Next review your credit score and make sure it is accurate, correct and is in good condition. You can order your own and make sure to ask for a copy from the lending institution you are applying through so you see the same things they do. |
| | It is always a good idea to get pre-qualified so you know exactly how much you will be dealing with and you will be more attractive to the seller you are approaching. |
| | Today's conventional mortgage will limit housing costs to 28% of your gross income and the total debt payments to 36% of your gross income. Take the needed time to get this in order. |
| | The most common terms for a house loan is 15 or 30 years. The longer the term the lower the payment but beware cause you will be paying much more in the overall interest cost. |
| | Most 30-year loans permit extra payments to your principal. With one additional payment to your principal you can reduce your 30-year loan to a 22-year loan. |
| | Points and interest on mortgages or the home equity debt are usually tax deductible, check with your tax consultant and make sure you are getting everything your can. |
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