randal
Apprentice
Joined: 08 Jun 2005
Posts: 2
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 Posted: 06/25/08 - 09:35 Post subject: |
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| I have recently taken a mortgage. I was looking to buy a home, but with all the turmoil in the mortgages market I am having second thoughts. However, since that is the only way, I would like an advice. My accounts aren't stable. Will it affect my mortgage rate? Thanks in advance for any help. |
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lowe
Apprentice
Joined: 07 Sep 2007
Posts: 3
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| Posted: 07/25/08 - 03:52 Post subject: |
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| The mortgage system works as any loan. You need to have enough money to make a deposit, and good enough salary to follow up with the payments. With a good credit rating, and a good history, you should get good deal because of your credibility. But before you apply, you should know whether you have a high enough credit score (over 650 is ideal). However, if you have low score, boosting it is the only way to make some improvement. With unstable accounts, your rating definitely drops and that damages good rates. Hope you find the info helpful. |
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