Real Estate Articles Worth Reading

The terms mortgage pre-approval and pre-qualification unfortunately are used interchangeably which creates confusion amongst the buying public. Folks these two mortgage terms have very drastic meanings. A pre-qualification letter essentially says that you are able to purchase a certain amount based on the income and debt load you have provided a mortgage broker or bank. This really does not mean you are able to get a loan as nothing is verified. In comparing a mortgage Pre-approval vs Pre-qualification there is a world of differences. When a borrower has been pre-approved for a mortgage there are things that have been verified by a lender including income, credit, financial history, debt load and employment. These things are not done when getting pre-qualified. Take a look at the article to see why it makes sense for a buyer to get pre-approved and why most savvy home sellers will require it!

If you are going to be buying a home there is no doubt you are going to want to have the best credit score possible! This borrowers who have the highest credit scores are afforded the opportunity to get the best mortgage rates.

It makes sense that if you know you are going to be buying a home and your credit score is not exactly where you want it to be you should be working to increase it. So how do you go about increasing a credit score? Take a look at the article for all the best advice on how to work towards maximizing your credit score.