5 Things You May Be Surprised To Know That Help You Get Approved Or A Lower Rate For A Mortgage Loan
Buy Life Insurance – Although life insurance is not a requirement for most mortgage lenders, it is definitely something that many lenders will take into consideration when evaluating your mortgage application. By demonstrating that you have enough life insurance to cover the mortgage, there is a higher likelihood that they will approve your application, because they know there is less of a chance theyll have to go through the difficult process of handling your mortgage if you were to suddenly pass away.
Don’t Close Any Accounts During the Mortgage Process – Since lenders are evaluating your present financial situation, the closing or canceling of any existing accounts, regardless of balance, may trigger a red flag with the lender. If you want to close any accounts or cancel any contracts, do this either before or after the mortgage application has been approved.
Request That Credit Bureaus DO NOT Accept Unauthorized Credit Checks – If youre like many average Americans, you receive countless pre-approved credit card solicitations and...
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