Select A Department:

Courses in this Department

How Ready Are You to Buy a Home?

Determining Your Dream Home and Finding It!

Factory Built Homes Are Worth a Look

Purchase Manufactured Homes with FHA Loan

How to Buy a Foreclosed Home

Pros and Cons of Corner Lots

Know the Neighborhood Before You Buy

Tune in to an Open House on the Radio

Finding a Qualified Broker or Agent

Shopping for a Loan and Choosing a Lender

How to Improve Your Credit

How to Survive the Loan Application Process

Making an Offer and Signing Contracts

Cancel Your Contract in 3 Days

Understanding the Closing/Settlement Process

Choosing Home Inspection and Settlement Professionals

Double Check Your New Home - The Walkthrough

Know Your Consumer Rights

Seniors Have Many Housing Opportunities

Preparing for the Big Day -- Relocating Moving

Make Your Home Your Castle - Cost Effective Redecorating Ideas


Pitfalls to Avoid

1. Remember that everything is negotiable. If it doesn't look like you can qualify for the loan you want the first time out, juggle things around a bit and try another angle.

2. Don't give up. There are always other ways to make the numbers come out right.

3. Look at other lenders and other loan options if you can land the first one you want. Every lender will look at the situation differently.

4. Pay off your other debt to get your debt burden down. This will help you settle the loan faster.

5. Check your credit before the lender does. If you don't, you could lose the house you want while trying to fix a problem.

6. Get pre-approved for the same reason.

7. Gather all your paperwork before you need it. There is nothing worse than spending the night before you close you loan looking in every shoe box you can find for that last bank statement.

8. Get organized. You are going to need to be on top of this process or you will miss something.

9. If you can't verify your income or will have trouble getting a loan the traditional way for one reason or another, try saving a larger down payment. You may be able to qualify for a no-doc loan or negotiate a deal if you pay 20-25% down.

10. Argue your case. No lender's guidelines are written in stone. If you think you have a strong case for getting the loan, prove it. You really have nothing to lose.

That's it!

You now know all you need to know about applying for a mortgage. Take a moment more for this short quiz to test your new knowledge. Be sure to review the sections of the course related to your wrong answers!

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