Before you begin the search for your dream home, decide how much you can comfortably spend. Mortgage lenders most often will take into consideration all of the following:
- The size of your down payment
- Your job stability
- Existing debts
- Credit references and,
- Payment history.
Knowing your credit status and how credit agencies rate your credit also may be a deciding factor, especially when you begin talking to lenders. There are three main credit-reporting agencies that will, for a small fee, send you the most current credit report on file.
Experian – 1-888-EXPERIAN (397-3742)
Equifax – 1-800-997-2493
Trans Union – 1-216-779-2378
