Applying for a mortgage can often be a difficult thing to accomplish. It is a lengthy process that is quite time consuming. Take a look at some tips listed below that can help you in the mortgage process.

Mortgage Tips For Washington, DC Homebuyers

• Always Get Your Credit Checked: This is often considered the first step to obtain a mortgage. It’s a good idea to know your score in advance of applying for a mortgage, in case you need to bring up your credit number.
• Always Get Preapproved: In this step, the bank will take a look at your income, employment, credit and assets to determine what type of mortgage you qualify for. This will often help you during the home search since most sellers will want buyers to be preapproved.
• Don’t Switch Jobs Just Yet: If you’re thinking of getting a new job, you may just want to stay where you’re at while you apply for a mortgage. A job switch can often present a red flag.
• Don’t Apply For A New Mortgage And A New Line of Credit: If you’re applying for a new line of credit while you apply for a mortgage, it may appear that you are financially unstable.
• New Funds Aren’t Always A Good Thing: If you do receive new funding, it’s a good idea to have it in your account several months before you apply for a mortgage. Suddenly receiving new funds does not necessarily mean financial stability.

Get Answers To Your DC Real Estate Questions

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.
Sincerely,
Melinda Estridge
melinda@estridgegroup.com
Long and Foster Realtors
Office: 301-657-9700
Mobile: 301-370-7859
http://www.estridgegroup.com