26 Jun 2008 Tell a Friend
Know exactly how much you can afford to repay each month, including fees. This way, you will have a solid number in mind, and you'll be less likely to be swayed by lenders, and you'll be less likely to find yourself tied into a mortgage loan that you can't afford.
Considering the higher difficulty in securing a mortgage, your credit needs to be as good as possible before you try to find the right mortgage loan. Keep an eye on your credit report (get a free trial subscription with Experian here), and be sure that there are no mistakes on your report that could lessen your credit score. Mistakes aren't uncommon, so it's a good idea to keep tabs on your credit report.
The mortgage market doesn't look good, but it's not impossible to find the right mortgage loan for you. Do your research, keep an eye on your credit, and know your financial limits.