Gov mortgage

I’ll start by checking my credit

Your credit report and scores are an important part of what lenders use to help determine whether you qualify for a loan and what interest rate you may be offered. If there are errors on your credit report, those errors could cost you a lot of money in interest or even prevent you from getting a loan at all. By checking your credit early, you’ll have time to get any errors resolved before you find your dream home. And, knowing your credit score, along with your expected down payment amount will help you get a realistic sense of what interest rate you might be offered, which is one key ingredient to figuring out the home price range you can comfortably afford. Your home is a purchase you’ll pay every month for many years, so you want to be careful to balance what you want with what you can afford.

You are starting off strong. Continue on to the next Mortgage Move. Remember, “Owning a Home” is a comprehensive and free resource that will guide you all the way to the closing table.

I’ll start by looking for a home

You are ready to see what’s out there and find the home of your dreams. You may want to work with a real estate agent or housing counselor, who is able to help you through the process. While you are working with your real estate agent or housing counselor, you’ll want to check your credit early on for two reasons.

1. Checking your credit early will help you avoid unpleasant surprises down the road. If there are errors on your credit report, those errors could cost you a lot of money in interest or even prevent you from getting a loan at all. By checking your credit early, you’ll have time to get any errors resolved before you find your dream home.
2. Your credit score is a key factor that affects the interest rate lenders may offer you, which in turn is a key component to figuring out the home price range you can comfortably afford. Checking your credit early helps you balance what you want with what you can afford.