Buying a house is the most liberating thing you can do in West Hartford. It’s also an excellent investment. Before you leap into the world of homeownership, however, you’ll need to have these three things in order.
Your Credit Score
You will need to improve your credit score as much as possible before you can contact a mortgage lender in West Hartford CT and learn more. Your credit score should be at least 580 so that you can qualify for an FHA loan. You could qualify for other types of mortgage loans if your score is higher, so the key is to boost it as much as possible. You can do that by paying down your debt, disputing bogus charges and keeping your utilization down under 30 percent.
Your Stability
You should be able to show the mortgage lender that you are stable. That means that you should live in the same location for at least two years, and you should have a stable job that you’ve had for two years, as well.
Your Down Payment
You are most likely going to need a hefty down payment to secure your home. The lowest down payment might be 3.5 percent, but you might have to pay up to 10 or 20 percent. Start saving your money now so that you can grab your dream house when the time comes.
Once you have all three things in order, you can contact a mortgage lender in West Hartford CT and learn more about how you can get the financing you need for your new home. Start getting your life together today so that you can have a better tomorrow.
Contact Grey House Mortgage, for information on fixed and adjustable mortgages.
