When you first anticipate the reality of wanting to become a homeowner, it will also be the time when you get serious about where your credit card stands.
Consumers that tend to pre-plan for all things financial should recognize the importance of getting the financial house in order, including attention to their credit scores. However, that is not always the case with perspective homeowners and as a result they end up losing thousands or hundreds of thousands of dollars over the lifetime of a loan.
Importance of Advanced Planning For those who are not advanced planners, getting approved for a mortgage may prove more difficult than initially thought. Mortgage lenders in today’s economy expect a lot more from borrowers than they have in the past decade. Lending requirements are much stricter and borrowers will need to be prepared to meet these expectations.