8 Big Mortgage Mistakes And How To Avoid Them

Among the many services Maggie provides her clients, making sure her buyers have the right financing for their situation is at the top of the list. The process of applying for a mortgage involves not just being aware of the required documentation procedures but also in getting familiar with a whole array of rules, regulations, and terms that may appear complicated to grasp in its totality for prospective buyers. According to the author, when confronting such a situation its all too easy for applicants to commit errors and to this end points out the leading mortgage mistakes that buyers should heed to in advance, prior to purchase. Prominent mistakes include not checking individual FICO scores six months in advance, overlooking state-sponsored first-time homebuyers programs, borrowing in excess of their ability to repay, and paying wasteful junk fees, amongst others. [Liz Pulliam Weston, MSN Money, 2005]