SHC HOME
Super Home Center

San Diego Business Listings by Category
The Attic
Home Improvement Information
Ask the Expert
Jim Neider
Articles
from Experts & our
Editors
Tips
from Everybody
Resources
Home & Garden
Contribute
an article or tip
Books
on Home Improvement
The Store
Stuff for your Home & Garden! Store Index
Software
for Home Remodel & Design, Landscaping
For the Contractor
Books, CDs, DVDs, Forms, Exams, Tools, Calculators & more!
Advertise with Us
Inexpensive Ads for your H&G business.
SuperHomeCenter.com

San Diego
SuperHome
Center.com

Super Home Center Article

Article 1st Tribal
Points of Focus Before a Mortgage
Author: Tim Richmond
Tim Richmond likes yellow curry and real estate. When he’s not scanning listings for a pretend
dream home he writes for 1st Tribal Lending, a provider of HUD 184 home loans.

Signing off on a mortgage agreement is a decision that can change more than your living situation. This scale of commitment can alter your financial foundation for tens of years and it's critical to make the process as calculated as possible.

There are certain details that deserve particular focus leading up to a mortgage and they're listed below for your benefit. If you're considering the acquisition of property, make sure to go through these carefully, as doing so could help you tremendously down the road.

    1. Gauge your credit
    2. For one, if you’re thinking about buying a house, you should ideally have good credit. Good credit isn’t only a number. It shows that you are financially responsible and this should be a good indication to yourself as to whether or not you’re capable of keeping up on a mortgage.

      Additionally, bad credit can mean a higher interest rate on a home loan. There’s already so much money involved in a real estate transaction that any you can make it more efficient will benefit you. Having a higher interest rate costs you more money in the long run and is inefficient if you can avoid it. If there’s nothing you can do about it, don’t worry too much. It’s just wise to check into it before you meet with a lending agent.

      Prime advice: Check your credit. If it’s not ideal, maybe hold off on buying a house for several months while you work to put it in a better position. It could help you avoid a high interest rate, thus saving you some serious money in the long term.

    3. Analyzing the entire mortgage payment
    4. If you’re considering taking out a mortgage, make sure you take into the account that there are other additions to the money you’ll be distributing towards the agreement on a monthly basis. Property taxes and insurance premiums can add substantial coinage to the cost of your mortgage. Many people overlook this and it’s your right to ask your lender any of these questions. After all, you’re the homebuyer.

      Prime advice: Be sure to understand all of the fees associated with a home loan. Like anything else in life, there are hidden costs. The only problem is that with a home they are much, much more significant costs. Just be wary of it and pry your lender for the information you need and you’ll be fine.

    5. Employment stability

Employment is always something to consider, particularly when the economy has been as volatile as it has been in the last few years. The focus on this aspect of your life needs be very serious if you’re considering a mortgage. The last thing you want is to sign that historic of an agreement and then not be able to make payments a few months down the road.

Take into account the stability of not only your job, but the company or entity that you work for. How do they seem to be sitting in an economy that has fluctuated greatly in the last several years?

Prime advice:Your job will provide you with the resources to be successful in handling a mortgage. Give yourself a fair shot by accurately gauging where you stand within your employment.

A mortgage is something that people work for their entire life. It’s something that takes time and it deserves to be treated as a big decision. Part of making a large-scale choice is properly assessing your individual situation and considering it from all angles.

Sometimes homebuyers feel rushed into a situation because they think they found their dream home. Even if you are one that has, it’s important to take a step back and properly determine how the decision will affect other aspects of your life and if you’re financially capable of being successful with the contract.

Buying real estate is exciting and you deserve to be in the position you’re in. Use your best judgment while consulting those close to you. From that point on, everything will fall into place.


Tim Richmond 2013 – All Rights Reserved
Printable Version .doc file


Top         Articles Index


115125 FloorPlan 3D Remodel & Home Design v11

FloorPlan 3D Home Remodel & Design v11
Home design, remodel, room additions. Kitchen, bath remodel, interior design & more. Runs on XP, Vista, Windows 7.

28614 Garden & Deck FloorPlan 3D

Garden & Deck FloorPlan 3D
Easy Custom Deck & Landscaping Design. Powerful design tools integrated into one easy-to-use program.

The Attic   Articles   Tips   Ask!   Links   Books   Software

Home   Search   Shopping   About Us   Join Us   Ad Rates   Contact   Legal

S H O P P I N G

Go Shopping >>

Visit our Store

Construction Books & Resources for the Professional

Effective Low Cost Advertising for Home Improvement Businesses
Text Ads - Listings w/Link:
$10 - $25 - $50    Web pages: $25 - $45 - $75

SuperHomeCenter.com is a CyberSide & Co. Directory
Web Design, Development, Hosting & Maintenance by The CyberSide & Co.
All contents copyright The CyberSide & Co., 1998-2016. All rights reserved.
Compiled business listings are the sole property of The CyberSide & Co.
No portion of this document may be duplicated without permission in writing.

www.SuperHomeCenter.com


Super Home Center
Home Improvement
SPC6.GIF (815 bytes)
HOME & GARDEN DESIGN SOFTWARE CATALOG

115125 FloorPlan 3D Remodel & Home Design v11
FloorPlan 3D Remodel
& Home Design v11

XP  Vista  Windows 7

Home Design, Home Remodel software. Interior Design, Landscape Design software.
Punch! House
Beautiful Design Suite

41675 Custom 3D Home 4 in 1 Suite
Custom 3D Home
4 in 1 Suite

RESOURCES FOR
CONTRACTORS
Books, CDs, DVDs, Forms, Exams, Tools, Calculators & more!


Visit our Store

Store Index

Super Home Center