Mortgage Requirements have recently been modified. Some of the changes made will allow
you a much greater variety of options that were previously unavailable. Taking these new
requirements into consideration, industry insiders have recently released a report detailing the
4 Biggest Mistakes most home buyers make when shopping for a mortgage. This report is provided to you free of charge as a service. We hope this report greatly assists you in your quest to find the perfect home AND the right mortgage loan.

Mistake #1 - Borrowing Too Much / Not Thinking Long-Term

The first mistake most people make when obtaining a mortgage loan is not determining their
comfort level with a given payment amount. How much are you willing and able to shell out
each month for your mortgage? Just because a lender offers you a $200,000 loan with a $900
payment doesn't mean you HAVE TO buy a $200,000 home. We recommend a more
conservative approach. And even if you think you can afford $900/mo right now, you need to re-think it while factoring in future considerations. What if the economy takes a down turn? What if you or
your spouse is temporarily out of work? What about other purchases and savings? If you
pour all of your resources into a monthly mortgage payment, how can you afford to save for
your retirement or your children's education? This is why you should seek the advice of a mortgage expert. He or she can sit down with you, assess your needs and long-term goals and offer the best hummingbird loans 2500 loan no credit check for those needs.

Mistake #2 - Failing to Ask Critical Questions

There are a few important questions you need to make sure you ask your mortgage company.
Question 1: Is your mortgage portable? In some cases, your mortgage may be "portable",
which means you can carry it with you when you buy your next home and avoid having to
obtain a new mortgage. NOTE - These types of hummingbird loans no credit installment loans direct lender are not available in all cases.
Question 2: Is your mortgage assumable? The term "assumable mortgage" means that when
you sell your house to a buyer sometime down the road, the buyer can "assume" your
mortgage, instead of having to apply and receive their own mortgage. This is very attractive
to some buyers and may help you during negotiations.
Question 3: Is there any "pre-payment penalty" if I decide to sell or refinance my home
before I have paid off my existing loan? This is a very important question, since you might
be forced to pay a penalty if you pay off certain types of loans before they are due.

Mistake #3 - Not Seeking Out "Alternate" Payment Plans

Did you know that with certain hummingbird loans bad credit personal loans guaranteed approval no credit check types, you can shave off years of payments and
thousands of dollars in interest? It all depends on what payment schedule you pick. Using
additional payments and/or "bi-weekly" payment programs can save you enormous amounts
of money and time. For example, with a bi-weekly payment plan, you could save up to
$46,701 on a $125,000 loan!!!

Mistake #4 - Not getting Pre-Approved by a Reputable Lender

In some areas, a seller may not even deal with you until they can verify that you can actually
afford to purchase their home. To them, a pre-approved buyer is essential. But even in cases
where pre-approval is not mandatory, it is still wise to consult with a reputable mortgage
company and receive a pre-approval. Especially considering that the pre-approval process is
fast and easy...not to mention FREE! Once you are pre-approved, you can embark upon your home buying journey with confidence, knowing that once you find your dream home, obtaining the money to buy it will be the easy part!