The Top 15 Mortgage Mistakes to AvoidPosted by Terry Paranych on
Buying a home is the one of the greatest investments you will ever make. For this reason, it’s important to avoid expensive errors, especially when applying for a mortgage. Here are 15 common (and costly) mortgage mistakes to avoid.
Mistake 1: Not Improving Your Credit Score
Lenders consider you more creditworthy when you have a high credit score. With a good credit history, you can qualify for a larger loan, a lower interest rate, and a lower monthly payment, so be sure to do everything you can to improve your credit score before shopping for a home loan:
- Payment history can account for up to 35 percent of your credit score, according to Equifax. You are more likely to improve your credit score if you pay your bills on time. Make sure…
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