You’ve worked hard to build good credit, establish an excellent payment history and save money for a down payment on a Southern California home but you still wonder how much home you can really afford.
Although there are mortgage calculators online that will give you a rough idea of how much home you can afford, or what your estimated mortgage payment will be, the reality is that the absolute best way to figure out how much home you can really afford is to speak with a mortgage lender.
Why You Should Speak With a Lender Now
Besides finding out how much of a Southern California home you can afford one of the biggest benefits that comes from meeting with a mortgage lender now is that most lenders and mortgage brokers will give you an idea of things you can do that will help you to qualify for a better mortgage loan.
Some of the things that your mortgage lender might recommend to you include: paying down your debt-to-income ratio and more.
Before Applying For a Mortgage Loan Do This
One of the most important things you should do before meeting with a mortgage lender is to pull your credit report at least three months in advance of applying for a mortgage loan because this will help you to know your credit score and confirm that there aren’t any old debts on your credit report which may have been unpaid from your past.
If you find items on your credit report that are inaccurate and must be removed the best thing to do is take action immediately by contacting each individual credit bureau and request that they remove those inaccurate items on your credit report since removals can sometimes take 30 days to be completed.
Contact Fred Sed Realty
For more information about how much home you can really afford contact Fred Sed Realty today by clicking here to connect with us online or calling us at (800) 322-4643.