Mortgage Advice in Today's Real Estate Market

With the slowing housing market, rising interest rates and lenders tightening the reins on their mortgage qualification requirements, it's extremely important to get the best mortgage at a good interest rate. Keep reading for four tips you can use to get the best mortgage in today's residential real estate market. 1. Work on your credit. If your credit score isn't good, make the effort to work on rebuilding it. Now is not the time to accept a higher rate just because you have poor credit. Spend a year or two making sure all your payments get in on time, stop applying for new credit (because that actually works against your credit rating) and you will reduce the balance on your double-digit interest credit. Because interest rates are already rising, you can't afford to lock in at a credit penalty rate. Remember, taking an... [read full story]