| Your home mortgage loan is the largest debt you | | | | sit down and take a look at your monthly |
| will carry. Your home mortgage loan is also the | | | | expenses and bills to see what type of payment |
| highest bill you will pay each month. Avoiding | | | | you can easily afford each month. Lots of times |
| mistakes when looking for a home mortgage loan | | | | after you buy a new home, something will go |
| can make you a smart and happy homeowner | | | | wrong and you may have to pay for costly |
| with more money in your pocket each month. | | | | repairs. This can be difficult if you are carrying a |
| First mistake | | | | home mortgage loan that is too high for you. It |
| The first mistake you can make is not looking for | | | | can also make your life miserable if you have to |
| the best home mortgage loan rates you can find. | | | | worry each month about how you are going to |
| There are so many lenders that want your | | | | make the mortgage payment. |
| business, and taking the time to find out the best | | | | Fourth mistake |
| rates is time well worth spent. When you find a | | | | Before you are ready to make a bid on the |
| competitive rate, you may find that not only do | | | | house of your dreams, be sure you are |
| you save money each month, but just think of | | | | pre-approved for a home mortgage loan. When a |
| the savings you will enjoy over the life of the | | | | lender looks at your current financial picture, they |
| home mortgage loan. | | | | can decide on a cap for your loan. This makes it |
| Second mistake | | | | easier to make an offer when you are ready as |
| A mistake many new homeowners make when | | | | you will already have the financing set up. |
| searching for a home mortgage loan is not | | | | Fifth mistake |
| checking their credit history before applying. Many | | | | Never agree to a pre-payment penalty fee. A |
| times there are mistakes on your credit report | | | | home mortgage loan given to a borrower who |
| that could affect the rate you are offered, and | | | | has a poor credit rating can charge sometimes as |
| taking the time to take care of those problems | | | | much as thousands of dollars for those who pay |
| before putting in your application with a mortgage | | | | off the loan in the first few years of owning their |
| lender, can save you time and aggravation in the | | | | home. Many times the reason that people pay off |
| long run. | | | | a mortgage early is that you have found a more |
| Third mistake | | | | attractive interest rate that will put more money |
| Another costly mistake you may make when you | | | | in your pocket each month. Keep this in mind, and |
| are buying a new home is spending too much | | | | read the small print before signing on the dotted |
| money and not being able to handle the payments | | | | line to ensure you are not agreeing to this |
| each month. Before you decide the purchase | | | | practice. |
| price of a home you can afford, you will need to | | | | |