What Ive learned about home mortgage
But aren't banks leery of giving out new mortgage loans? Yes and no. The deciding factor is the applicant's credit rating. Banks are leery of offering new loans to anyone with a bad credit rating (and guidelines for what constitutes a bad rating are more stringent now), but they are happy, even eager, to offer loans to people with good credit. Get a free credit report and discover what your credit rating is, and if it is good, then apply for a mortgage right away. If your credit is marginal, there are a few steps you can take to improve it within the next six months.