5 THINGS YOU MUST KNOW BEFORE YOU APPLY FOR A HOUSE MORTGAGEHAVE YOU ASKED YOURSELF THESE 5 CR IT ICAL QUEST IONS?

From the mortgage professionals at Argon Credit.

Applying for a house mortgage can seem like a daunting process.

With constantly changing rates and confusing industry jargon,

it’s no wonder that many people don’t even know where to start.

The mortgage experts at Argon Credit recommend asking yourself

a few critical questions before delving into the process of

applying for a house mortgage.

P U RC H AS I N G A H OME C AN B E A G REAT I N VES T ME N T AN D CAN AL S O G I VE H OME OW N ERS A N E W FOU N D S E N S E OF FREE DOM, B U T I T REQU I RE S A C OM MI T ME N T. AS K YOU RS E L F I F YOU ARE W I L L I N G T O S TAY I N TH E S AME P L AC E FOR A F EW Y EARS . I F YOU ARE U N S U RE OR DON ’ T T H I N K YOU C AN S TAY P U T , TH EN C ON S I DE R ALT E RN AT I VE H OU S I N G OP T I ON S W H I L E YOU T H I N K I T OVE R.

CAN YOU COMMIT?

HOW’S YOUR CREDIT SCORE?

DO YOU KNOW YOUR CRED IT SCORE? I F T HE ANSWER I S NO TH EN YOU SHOULD MAKE TH AT A PR IOR ITY BEFOR E YOU APPLY FOR A MORTGAGE . GET A COPY OF YOUR CRED IT REPORT AS SOON AS POSS IBLE SO YOU CAN LOOK I T OVER , FAM IL IAR IZE YOURSELF W ITH TH E DETA I LS , AND CORRE CT ANY E RRORS T HAT YOU MAY F IND . T HE RE I S NO QU ICK F IX BUT TH ERE CAN SOME T IME S BE ONE OR T WO CH ANGES TH AT DRAMAT ICALLY AFFECT YOUR CRED IT H IST ORY AND CRED IT SCORE .

YO U S H O U L D K N O W YO U R BU D G E T RA N G E BE FO R E YO U A PPLY FO R A M ORT G AG E S O T H AT YO U C A N G E T T H E RAT E T H AT I S R I G H T FO R YO U R PE R S O N A L I Z E D S I T U AT I O N . A N O T H E R BE N E F I T O F H AV I NG A R I G I D BU D G E T I S T H AT YO U W ON ’T M A K E T H E M I S TA K E O F G E TT I N G D RAW N I N T O A H O U S E T H AT ’S I N A PPR O PR I AT E FOR YO U .

WHAT’S YOUR BUDGET?

DO YOU KNOW YOUR R IGHTS?

You have a number legal rights to prevent things like credit discrimination and financing discrimination. If you don’t know them, take a

moment to familiarize yourself so that you can be an informed borrower and avoid

unnecessary expenses down the line. Look into the Equal Credit Opportunity Act, which makes credit discrimination illegal, and the

Consumer Financial Protection Bureau, which added new mortgage rules in 2014.

I T I S W I S E T O D O S O M E R E S E A RC H F I R S T A N D T H E N H I R E A M O RT G AG E A N D L E N D I N G P R O F E S S I O N A L . C O M PA N I E S L I K E A R G O N C R E D I T H AV E Y E A R S O F E X P E R I E N C E H E L P I N G C U S T O M E R S F I N A N C E T H E I R B I G G E S T P L A N N E D O R U N E X P E C T E D P U RC H A S E S , Q U I C K LY A N D E A S I LY. C O N S I D E R C H E C K I N G I N W I T H S O M E I N D U S T RY P R O F E S S I O N A L S T O E N S U R E T H AT YO U H AV E A L L T H E I N F O R M AT I O N YO U N E E D T O M A K E D E C I S I O N S T H AT A R E R I G H T F O R YO U R S I T U AT I O N A N D B U D G E T.

HAVE YOU DONE YOUR HOMEWORK?

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