6 Things You Should Know Before Getting a Mortgage

Getting a mortgage isn’t something everyone feels entirely comfortable about. In fact, according to an article released by the New York Post, when asked the definition of the word “mortgage”, only 49% of people chose the correctly from a list of options — 54% of them being homeowners and 40% of those who rent. Not only do we want you to know WHAT a mortgage is, but we want you to be an EXPERT. Here are some simple tips that will help you get there:

1. The higher your credit score, the better.

2. As lenders, we value job stability.

3. There are many different mortgage options available.

4. It’s best to avoid making financial changes until your mortgage is finalized.

5. You’lll pay more, without a 20% down minimum payment.

6. Mortgage prequalification and mortgage preapproval are not the same thing.

We hope you found this helpful, but if you’re still have some questions please give us a call!