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Getting The Lowest Mortgage Loan Rates For Nurses

When it comes time to buy a house, you should look for mortgage advice first on the Internet and then from the experts. This information is plentiful everywhere, but be sure to research sources carefu...

When it comes time to buy a house, you should look for mortgage advice first on the Internet and then from the experts. This information is plentiful everywhere, but be sure to research sources carefully so that you don't take advice from someone who simply wants to sell you something, for example. There are many good "generic" financial websites out there that contain good information about mortgage loans for nurses where you're not being "sold" on something.

What should you look for when it comes to mortgage rates?

Again, financial websites are a good place to look when you are trying to determine what current mortgage rates are. Mortgage rates fluctuate often, because they change as the government changes interest rates in general. However, again, this is good generic information that should be available anywhere on the Internet.

Getting your own records and finances in order

Before you even begin to look for mortgage loans for nurses, make sure your own financial house is in order. Pull your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion), and make sure that you have no unresolved debts.

First of all, take a look and make sure everything on each credit report accurately reflects your own situation. Are all of the debts yours? If they're not, write each credit bureau listing each of the debts, past due bills, etc., that aren't yours and dispute them. By law, the credit bureaus have to investigate these by contacting the creditors in question. If the creditors don't respond or if the debts are found not to be yours, they have to be removed, usually within 60 days.

Is your credit rating in good order?

Next, take a look at your own financial history and make sure that you have been responsible in your financial behavior. Because of the current mortgage loan crisis, it's very, very difficult to get a mortgage these days even if you have good credit. Therefore, your own has to be stellar to get the best mortgage rates. For at least a couple of years before you try to apply for your mortgage, you should have been very responsible in your own financial behavior with no past due bills, overextended credit cards, and so on. If you have had a very good financial record for least the last couple of years, you should be in good shape to apply for mortgage loans for nurses. If not, get your financial house in order by being responsible with your bills, paying down credit card debt, keeping up with student loans, and so on. Do this for a couple of years before you try to pursue your dream of buying a house.

If your financial house is in order

Once your financial house is in order, you're all set to begin to pursue your dream of buying a house. There are lots of good buys on the housing market these days because of the mortgage crisis, and lenders should be willing to work with you to get the best mortgage rates if you're a good candidate. That said, though, it's likely that a lender is going to want you to have at least 20% to put down on the house; this wasn't always true, but with tightening mortgage and credit acquirements, this is much more likely to be the case.

With that said, if you have a good steady job, pay your bills on time, have a good credit history, have 20% of the house's price to put down, and live within your meansArticle Submission, mortgage rates should be favorable so that you can buy your dream house.

Article Tags: Mortgage Loan, Mortgage Loans, Mortgage Rates, Make Sure, Financial House

Source: Free Articles from ArticlesFactory.com

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For more information on mortgage loans for nurses and mortgage advice, visit the Mortgage Loans For Nurses website.



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