This housing market is certainly in turmoil, and lenders have greatly “adjusted” their practices and policies for issuing home loans and mortgages. So for many folks, that translates into an inability to secure a mortgage. However, there are some things you can do to increase your chances for landing a new home loan.
Take a look at these five things:
- Order a copy of your credit report
- Get pre-qualified
- Pay close attention to loan rates and loan programs
- Come to the table with a large down payment
- Don’t make any large financial moves
These sound financial tips are covered in more detail by Tina Fountain in her article “5 Tips for Securing a Home Loan”.