If you’ve just decided to buy your first home, it is
important that you have a clear idea about home loans. Buying a new house is
one of the biggest financial investments you’ll ever make, and no doubt you’ll
have many questions regarding the process.
Before you
begin the home purchasing process, the first thing you need to know is your
credit scores. Credit score is the most important factor a lender looks at when
determining if they will approve a mortgage. A lender never gives out the
entire loan amount you’ve applied for. In fact, the most they will give you is
80% of the value of the property. The other 20% funds should be mobilized by
you. When you are applying for a new home loan, you should make sure to have
the down payment fund ready so that your application doesn’t get rejected.
We're here to fill in the gaps by giving everyone of the appropriate responses
and valuable information you’re looking for. Read to learn more about the first-time
mortgages and new home loan solutions offered by EMImantra.
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