Terry’s Blog: Getting The Best From Your Home Mortgage

Getting The Best From Your Home Mortgage

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Pay down your debt, then avoid adding new debt when trying to get a home loan. When your consumer debt is low, you will qualify for a higher mortgage loan. High levels of consumer debt can doom your application for a home mortgage. Carrying a lot of debt can also increase the rate of your mortgage.

Getting a mortgage will be easier if you have kept the same job for a long time. Many lenders insist that you show them two work years that are steady in order to approve your loan. If you switch jobs too much, you might be not be able to get a mortgage. Quitting your job during the loan approval process is not a good idea.
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