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Posted by on Feb 7, 2014 in News | 0 comments

Linda Read on updates for 2014

Linda Read on updates for 2014

Happy New Year 2014! While the recovering economy gives prospective buyers plenty of reasons to cheer—better job security, a raging stock market and rising home values— the clock will be ticking for buyers who want to grab a low mortgage rate in 2014. But if you stay on your game, keep your finances in order and act quickly, you can still grab attractive mortgage deals. Here are a few tips to assist you on obtaining your next mortgage loan. -Document your finances. -Keep good records of all of your finances including bank statements, tax returns, W2s and paystubs. Be ready to explain any unusual deposits….yes, the $500 that Grandma deposited in your account for Christmas could delay your closing if you cannot explain where the money came from. -Take good Care of your credit. -You need decent credit to get a decent mortgage loan; lower scores from poor credit will mean higher rates and higher costs. Don’t overspend. -2014 brings new lending guidelines and your debt to income ratio will...

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