Released on = April 21, 2006, 5:07 pm

Press Release Author = David Brown - Brown-lending.com

Industry = Financial

Press Release Summary = It\'s important to know how much you can afford to pay in
down payment and closing costs when you apply for your mortgage. The more you put
down the better rates and terms you\'re likely to get. At the same time you also need
to stay within your means and comfort level.

Press Release Body = Avoid disappointment and SAVE thousands by taking a few minutes
to acquaint yourself with these potential home buyer mistakes commonly made..

It\'s important to know how much you can afford to pay in down payment and closing
costs when you apply for your mortgage. The more you put down the better rates and
terms you\'re likely to get. At the same time you also need to stay within your means
and comfort level.

Industry insiders know that the most common reason that a sale fails to go through
is that the mortgage fails to go through. Ask your mortgage broker about her/his
performance guarantee.

Most of us don\'t shop for a mortgage very often. As a result it isn\'t something we
become familiar with. Work with a mortgage broker who will take the time to answer
your questions and uses terms you understand.

Not all lenders have a range of options when it comes to investors. What if that
investor doesn\'t offer the type of mortgage you need? Or worse yet, what if you need
to change loan products after you\'ve started the process? Working with a mortgage
broker who has many investors enables you to address these issues without starting
the process over again.

Many people think that it is in their best interest to get large purchases completed
prior to applying for their mortgage. As total debt is a key component in
determining the amount of home you qualify for it is best to wait until after your
home purchase has closed to make such purchases.

Each time you call a lender seeking the best possible rate and terms you have your
credit report pulled. Every time your credit report is pulled you risk decreasing
your credit score and thus possibly decreasing the likelihood of getting the best
rate and terms. Experts recommend that you select a mortgage broker with a number of
investors and do your shopping with her/him.

Most of us have experienced times of financial difficulty at some point. While it
can be embarrassing to discuss issues like this, your mortgage broker is there to
help you get loan approved despite such issues. Your mortgage broker can only help
you with those things with which s/he is aware.

Late payments, especially those within the last year, can be very detrimental to
getting the best rate, terms and even the difference of being approved at all. While
this might seem like unnecessary advice, ALWAYS pay on time.

Credit cards are a convenient way to make purchases, but if not paid off or balances
kept low you might find it more difficult to get the best rates and terms on your
mortgage. Keeping your total debt as low as possible helps you get the mortgage that
best meets your specific needs.

While it can be a great service to a friend or loved one, signing to guarantee
someone else\'s loan is often a big head ache for the cosigner. Before cosigning you
decide if you\'re willing and / or able to assume the liability.

It is important to learn the total cost of your mortgage loan, both at closing and
for the life of the loan. While mortgages can look a lot alike there can be subtle
differences which can save or cost you thousands of dollars. Get all the facts and
know what to expect.
Mortgage regulations have changed significantly over the last few years, making your
options wider than ever. Subtle changes in the way you approach mortgage shopping,
and even small differences in the way you structure your mortgage, can cost or save
you literally thousands of dollars and years of expense.

Get the Right Information - Whether you are about to buy your first home, or are
planning to make a move to your next home, it is critical that you be informed about
the factors involved.
Everyday people have their mortgage loan turned down because of one or more of these
mistakes. By taking these few minutes to acquaint yourself with Mortgage Mistakes
Commonly Made you can potentially save thousands on your mortgage.


Web Site = http://www.brown-lending.com

Contact Details = David Brown
10721 Jacksonville Lane
Frisco TX 75035

(214)387-0683
(214)387-0185