Mortgage talk # 2

Transcript

I’m Miriam  Neff,  and I’m Valerie Neff Hogan, with Wise Women Managing Money

 M With mortgage rates on the rise, its wise to count the cost of buying a home.  In most areas, one must be prequalified with mortgage approval before realtors want to take you so see homes. 

 V Prequalification requirements include revealing your credit score and income.  Income indicates whether you can meet that monthly payment.  Credit score reveals whether you are a good or poor risk. Its wise, if you are contemplating buying, work on getting your credit score above a certain level.  Make sure each item is accurate in bills you’ve paid in the past.

 MDo these details take time?For sure.But to be a successful homeowner, you need to be able to afford that home, not just hope that your income will rise and you will survive.