Wednesday, August 31, 2005

Tips | Getting the best loan

Charlotte Observer | 08/28/2005 | Tips | Getting the best loan: "Get educated about the mortgage lending process. You can find information, including housing counselors in your area, through the Web site of the Department of Housing and Urban Development: http://www.hud.gov/buying, or by calling (800) 569-4287. Several groups offer home buying classes in the Charlotte area, including the Urban League of Central Carolinas. Call (704) 373-2256, ext. 206.
1. Start early
Several months before you plan to start looking for a home, visit a local bank or credit union. Ask if you qualify for a market-rate loan. If not, ask how you can improve your financial profile. Most people can qualify for a market-rate loan by taking a few months to pay debts or save toward a larger down payment."
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