Are You Mortgage Ready?

What does it mean to be “mortgage ready?” A mortgage is a payment on a home one would make after borrowing money from a bank or lender to purchase said home. A lot goes into mortgages. Mortgages have interest rates and depending on your credit score will determine how much interest you would have to pay.

You can also get a fixed rate mortgage which would mean that your interest would be fixed at that same percentage until the home is paid off, you sell, etc. Getting mortgage ready is important because when preparing yourself to buy a home, you need to have all the crucial information and knowledge you need to make the process go much smoother.

Highlands Mortgage, one of the top mortgage lenders in Delaware, offers a program called Get Mortgage Ready. It is a series of personal, face-to-face meetings, educational seminars, and credit evaluation attempts. While it is technically a six-month course, others may take as few as sixty days to complete it. Unlike other mortgage lenders in Delaware, Highlands Mortgage wants to make sure you get the most from this opportunity and uses all of the extensive knowledge they have gained since they opened. They will make homeownership a reality for any individual that is committed.

They Get Ready Mortgage program will educate you on:

  • The significance of credit scores.
  • The different factors that affect your credit scores.
  • How to handle mistakes on your credit report
  • Errors that lower your credit score.
  • Different ways to improve your credit score.
  • Ways to re-establish your credit.
  • How to budget your money.
  • Different wealth builds ideas and concepts.
  • How to get pre-approved credit to buy your own home.

This program also includes the following:

  • Running a tri-merged credit report.
  • Consultation on how to re-establish credit.
  • How to conduct a rapid resource analysis.
  • Evaluate income, employment, and income to debt
  • Estimations on how much house you can afford to buy.
  • Estimate how much money to save for closing on your home.

As you can see, this is a great program for any first-time home buyers, someone struggling with bad credit, or anyone who owns a home but wants to learn how to make sure they do not lose it. Understanding each of the following things the program teaches is important to make sure you can get the house of your dreams that is within your financial means. You do not want to overwhelm yourself with a large mortgage when you do not have the means to pay it. Living within our means, paying bills on time, and understanding credit is the best way to ensure that we not only can buy a home but can keep the home as well.

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