Mortgage Tips For The Frantic

Written by T. O' Donnell


Continued from page 1

Don't look for a home without being pre-approved. You will have much more negotiating power withrepparttar vendor, and may be able to save thousands of pounds.

Get a full, professional survey. Human beings can be perverse; happy to spend £150,000 on a house after a half-hour viewing, but be-grudge spending £500 finding out whether it's worth buying inrepparttar 135781 first place!

Find outrepparttar 135782 true value of your home. Get more than one independent appraisal. Compare it withrepparttar 135783 prices of similar-sized houses for sale inrepparttar 135784 same area.

Start gathering documents. Provide your mortgage company with documents in good time; don't let your rate lock expire!

Verbal (oral) agreements are worthless. When buying or selling property, always get it in writing.

When you do get your mortgage, check your payments are correct - dorepparttar 135785 mathematics. There's a one in ten chance you could be paying more than you should.

Review your mortgage regularly - this, and possibly remortgaging, will ensure you pay as little as possible in interest.

Finally, considerrepparttar 135786 following advice fromrepparttar 135787 U.S. Department of Housing and Urban Development:

Be sure to read and understand everything before you sign;

Refuse to sign any blank documents;

Do not buy property for someone else;

Do not overstate your income;

Do not overstate how long you have been employed;

Do not overstate your assets;

Accurately report your debts;

Do not change your income tax returns for any reason;

Tellrepparttar 135788 whole truth about gifts;

Do not list fake co-borrowers on your loan application;

Be truthful about your credit problems, past and present;

Be honest about your intention to occupyrepparttar 135789 house;

Do not provide false supporting documents.

A mortgage isrepparttar 135790 biggest financial committment most of us will ever make; worth spending a little time on, to get it right!

About the author: T. O' Donnell (http://www.tigertom.com/mortgages-uk.shtml) offers mortgage quotes, advice, an ebook and a mortgage calculator, in London, UK.




Simple Tips On Getting Your Loan

Written by T. O' Donnell


Continued from page 1

If your spending is out of control, don't put your home at risk by getting a home equity credit line to pay off your credit-card debts.

Shop for rates whenrepparttar market is calm. Rates change from day to day, so compare lenders. The quotes you get should all be fromrepparttar 135780 same time period.

Submit a neat application form; it shows you're business-like and efficient. It will be read and assessed by a human being; appearances count.

Only pay up-front fees to well-known institutions, or ones highly recommended by trusted sources.

Don't sign documents without reading them. As soon as possible, before you closerepparttar 135781 deal, reviewrepparttar 135782 documents you'll be signing, and make sure you understand them, so you won't have to sign them in a hurry.

Keep a copy of every cheque you write for your loan. If you call your lender about your loan, make sure you getrepparttar 135783 full name ofrepparttar 135784 person with whom you speak. Make a note of it. You may be dealing with a large bureaucracy, and will need to refer to this conversation later.

If you find yourself in a dispute with a lender, don't send correspondence torepparttar 135785 same address you send your payment. You need to deal withrepparttar 135786 decision-makers, notrepparttar 135787 account clerks.



About the author: T. O' Donnell (http://www.tigertom.com/personal-loans-uk.shtml) offers personal loans, advice, an ebook and a loan calculator, in London, UK.




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