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10 Mortgage Mistakes You Can't Afford

Monday, December 3, 2012   /   by Rob Cheyne

10 Mortgage Mistakes You Can't Afford

Getting the proper financing for your home can save you thousands of dollars over the course of the loan. Read this article for some tips for making sure you get the financing you need when you purchase your next property.


Rob Cheyne - Expert Advisor Team


    Landing a mortgage loan opens the door to home ownership, but it’s no longer the inalienable right it appeared to be during boom times. So it’s important to choose competent professionals to help make the process smooth.


    While there are numerous new mortgage-lending regulations to protect you from predatory lenders, there are many new underwriting rules to protect lenders from defaults by borrowers as well.

    If you want to buy a home today without overpaying for a mortgage loan, you’ll have to come to the table with mortgage market savvy, a serious job, excellent credit, sufficient liquid assets and limited debt.

    Because a mortgage opens the door to homeownership, it’s where you can least afford to make mistakes.

 

    While any mistake can kill the deal, here are the top 10 mortgage mistakes: