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Complete an online mortgage application from a licensed lender. That Simple!
Be ready to submit your financial info such as W2, 1099, or other income /debt.
2) Shop Loan Products
Applying an online mortgage application will effect your credit score, HOWEVER, you can continue to fill out online mortgage applications for a time period (30 - 60 days) from first application WITHOUT effecting your credit score additionally. This allows home buyers to shop mortgage lenders for the best rates.
3) Credit Score Vs Interest Rates
Most mortgages require a minimum credit score to apply for a loan. Typically the lowest credit score to apply for a loan is 580. Most home loan officers will grant better interest rates with a higher credit score.
4) Down Payments
5) Origination Fee
This is the charge from the bank for lending the money and starting the home loan. Typically it is discussed as points, but just means % of loan.
6) Types of Loan Products