About Me

Learning More About Savings

Hello, I’m Miranda West. I would like to use this site to help others build an adequate savings account. Most people do not have enough money in their savings accounts to cover emergency repairs or other expenses that unexpectedly arise. Without a savings account, you may be at the mercy of your employer, which can have a negative effect on upward mobility. I will cover popular savings techniques you can use to start building your nest egg. I will also talk about ways to reduce spending so you can dedicate more to your savings. Thank you for coming to my website.


Learning More About Savings

Looking To Buy Your First Home? Two Tips To Help You Secure A Mortgage

by Ralph Ford

If you're like many people, purchasing a house is high on your list of priorities.  You dream of the day when you'll be able to cut your landlord loose in favor of owning a piece of property where you get to call the shots.  However, before you can get the home that you've envisioned, you'll first need to get a mortgage in place.  You want to start doing things now that can not only increase the chances that you'll be approved for the mortgage, but also that you will get good terms.  Use this information to learn more about two tips that can help you secure a home mortgage.

Avoid Making Big Purchases 

The first thing you should do when you're on the road to home ownership is avoid making big purchases.  This is important for a number of reasons.

Understand that lenders look at several different factors before they decide whether or not to give you a home loan.  One of the biggest components is your debt-to-income ratio.  Lenders need to see that you have the extra money available to pay your mortgage.  If you go out and buy something like a fancy, pricey car just before you apply for the mortgage it could signal to the bank that you're accumulating so much debt that you won't be able to pay for the mortgage if it is loaned to you.  This could mean that you are denied.

That's why it's important to pay attention to the credit items that you apply for when you're looking to buy a house.  Try not to max out your credit cards and avoid opening up new lines of credit so that you can increase your chances of getting the loan that you're after.

Maintain A Bank Account

Another important tip is to be sure that you maintain a bank account.  You need to be able to produce a strong history of the money that you have coming in, as well as going out.  The best way to do this is with bank statements.

You might be the kind of person who opens and closes accounts on a whim but this is a mistake.  Maintain at least one account over an extended period of time so you'll be a shoo-in for the loan.

You have what it takes to get the mortgage you need.  Start following these tips right away so you can get into your house as soon as possible.