Credit problems are unfortunately common, and they can make it difficult for you to obtain a mortgage. Even if you are able to obtain a mortgage with your credit issues, the rate may be rather high in comparison to what you may qualify for if you obtain a mortgage without fixing your credit problems. While some issues may take a while to fix, you may be able to see a decent increase in your credit rating when you follow a few easy steps. Pay Off Outstanding Derogatory Credit Items When you … [Read more...]
What Factors Affect Mortgage Payments?
As you can see in the video below, the amount of the down payment the size of the mortgage loan, the interest rate the length of the repayment term and payment schedule will all affect the size of your mortgage payment. In bullets: Down payment Loan size Interest rate - fixed or adjustable Repayment term - how long Payment schedule - how often all affect the size of your payment. … [Read more...]
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