Top 5 Mortgage Fears

Tips on why getting a mortgage loan may not be as scary as you think!

 

Mortgage Fear #1: “I don’t have enough money for a down payment.”

Looking to buy? You may only be required to make a small down payment based on what loan type you choose. Talking to a loan officer about your situation can get you accurate information on how much you really need.

 

Mortgage Fear #2: “I don’t have a perfect credit score.”

Although your credit score plays an important role in qualifying for a mortgage loan, there are other factors that help determine your eligibility. Your credit score does not have to be perfect to qualify!

 

Mortgage Fear #3: “I have student loans or debt.”

There are several factors that help determine if you qualify for a mortgage loan. Reviewing your debt to income ratio is one of them. You can run the numbers yourself to get an idea of how your debt affects your qualification on our Affordability Calculator or talking to a Goodmortgage loan officer.

 

Mortgage Fear #4: “I don’t want to get a bad interest rate.”

According to Market Watch*, mortgage rates are near record lows right now! If you’re thinking of refinancing your loan or purchasing a home, talk to a Goodmortgage loan expert today for more information.

 

Mortgage Fear #5: “It would be so much more money to buy than to rent.”

When you buy a home, you are investing in your future! You can check out our Rent vs. Buy calculator to get a glimpse into how much you may or may not save by buying a house or talk to a loan officer for more information.

 

Get your personalized, free rate quote and chat with a Goodmortgage Loan Expert today about mortgage tips at goodmortgage.com/apply-now or 844-372-3042!

*https://www.marketwatch.com/story/mortgage-rates-hover-near-record-lows-fueling-higher-home-prices-11603983800