If you are looking at doing something with a purchase or refinance even if it is not for several months you should start now. The first thing you want to do is contact your mortgage broker and put in an application as long as there is no fee involved. You should not have to pay an application fee anywhere. Once you have given enough information the mortgage broker can pull your credit report. This is a valuable tool as credit can be an asset or a liability.
The better your credit the more programs and lower rates are available to you. The worse your credit the rates get higher and less program options are available. If you do not have stellar credit what can you do? Talk with the mortgage person about what accounts can be paid off or balances lowered. Discuss any collection accounts or other information that is outstanding on your report. Find out if there are any erroneous accounts that need to be cleaned up. Fixing your credit is hard work that will pay off. If you have to do 40 hours worth of work to get 1% lower on your mortgage rate that could save you Thousands over the life of your loan!
For more information regarding credit contact me at via my website at http://www.new-hampshire-home-mortgage.com
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