How Can I Best Prepare For Taking Out A Mortgage?

The housing market is hot right now, but homes are in short supply. That’s why, when you want to buy a home, new construction homes may be one of your best options.

Not only do you not have to worry about intense competition, but you also don’t have to worry about investing in a home that’s too old for your family.

Still, there’s one thing you do need to prepare for, whether you prefer newly built homes or old-school houses, and that’s your mortgage.

3 Tips To Help You Prepare For Your First Mortgage

If you’ve decided it’s the right time for you to buy a home, it may be in your best interest to check your credit. Here are a few things you can do before you head out to find a mortgage lender to help put you ahead of the game.

    1. Review your credit report. Your credit report is the first thing mortgage lenders will look at when you apply for a mortgage loan. That said, it’s the first thing you may want to look at too. You want to make sure your credit report is not only accurate but also looks as good as possible. You want to track your credit as much as you can.


    1. Dispute any inaccuracies you find in your report. Sometimes your credit report may have errors. For instance, you may have paid for something that your report says you didn’t pay for. There may also be a purchase on your account that was the result of identity theft. Don’t be afraid to file a dispute with your credit reporting agency.


  1. Hold off on buying on credit. It may seem counterintuitive not to buy on credit while you’re considering a mortgage. But your excitement over buying new appliances and furniture can send your credit score into the gutter. Wait until your loan is approved before buying anything on credit.

According to ATTOM Data Solutions, approximately 34% of U.S. homeowners have 100% equity in their homes. This means they either paid off their entire mortgage or they didn’t have one.

It can be intimidating to take out a mortgage for the first time, but it doesn’t have to be. When you choose to buy one of the new construction homes from Camden Homes, you choose to work with a group of professionals who offer in-house financing to make the mortgage process easier. To learn more about our new construction homes in Houston, Dallas, or Fort Worth, contact Camden Homes to purchase a home today.

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