Amazines Free Article Archive - Friday, November 15, 2019
Read about the most recent changes and happenings at
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Subscriptions Manage Ezines
 Article Archive
 Advertising (133320)
 Advice (160864)
 Affiliate Programs (34735)
 Art and Culture (73688)
 Automotive (145678)
 Blogs (75052)
 Boating (9840)
 Books (17133)
 Buddhism (4124)
 Business (1328521)
 Business News (426309)
 Business Opportunities (366263)
 Camping (10961)
 Career (72734)
 Christianity (15843)
 Collecting (11637)
 Communication (115055)
 Computers (241954)
 Construction (38996)
 Consumer (49680)
 Cooking (17061)
 Copywriting (6567)
 Crafts (18204)
 Cuisine (7538)
 Current Affairs (20387)
 Dating (45776)
 EBooks (19687)
 E-Commerce (48204)
 Education (185250)
 Electronics (83496)
 Email (6392)
 Entertainment (159830)
 Environment (28937)
 Ezine (3039)
 Ezine Publishing (5446)
 Ezine Sites (1550)
 Family & Parenting (110900)
 Fashion & Cosmetics (196389)
 Female Entrepreneurs (11842)
 Feng Shui (130)
 Finance & Investment (310271)
 Fitness (106098)
 Food & Beverages (62867)
 Free Web Resources (7938)
 Gambling (30225)
 Gardening (25106)
 Government (10513)
 Health (629508)
 Hinduism (2205)
 Hobbies (44039)
 Home Business (91556)
 Home Improvement (251348)
 Home Repair (46126)
 Humor (4823)
 Import - Export (5453)
 Insurance (45130)
 Interior Design (29546)
 International Property (3485)
 Internet (190983)
 Internet Marketing (146334)
 Investment (22824)
 Islam (1167)
 Judaism (1356)
 Law (80486)
 Link Popularity (4591)
 Manufacturing (20842)
 Marketing (98770)
 MLM (14136)
 Motivation (18213)
 Music (27002)
 New to the Internet (9479)
 Non-Profit Organizations (4048)
 Online Shopping (129616)
 Organizing (7803)
 Party Ideas (11855)
 Pets (38080)
 Poetry (2234)
 Press Release (12673)
 Public Speaking (5618)
 Publishing (7523)
 Quotes (2407)
 Real Estate (126620)
 Recreation & Leisure (95271)
 Relationships (87469)
 Research (16158)
 Sales (80321)
 Science & Technology (110219)
 Search Engines (23453)
 Self Improvement (153098)
 Seniors (6232)
 Sexuality (35942)
 Small Business (49284)
 Software (82995)
 Spiritual (23465)
 Sports (116079)
 Tax (7658)
 Telecommuting (34066)
 Travel & Tourism (307376)
 UK Property Investment (3121)
 Video Games (13428)
 Web Traffic (11727)
 Website Design (56822)
 Website Promotion (36567)
 World News (1000+)
 Writing (35769)
Author Spotlight

Shovon Joarder has been working as Freelance Marketing Project Manager for over four years. He also ...more

Former English Teacher; Musician (20+ years); Freelance Writer ...more

My mission is to help one million people recover from their exes, to provide valuable information so...more

Rahul Verma, founder of the award-winning web development and digital marketing firm Digital SEO Com...more

I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more

How To Prepare Your Credit For Getting A Mortgage Loan by Jon Arnold

Article Author Biography
How To Prepare Your Credit For Getting A Mortgage Loan by
Article Posted: 09/27/2007
Article Views: 206
Articles Written: 781
Word Count: 807
Article Votes: 0
AddThis Social Bookmark Button

How To Prepare Your Credit For Getting A Mortgage Loan

Finance & Investment
Unless you fall into the very rich category, one of the most expensive loans you will ever get will be your mortgage loan. With even modest homes in nicer neighborhoods costing well over $150,000 these days in most parts of the country, even a quarter percent difference in the interest rate on your mortgage loan can account for hundreds of dollars per year, just in excess interest charges.

You need to fully understand that a mortgage loan is significantly different from a personal loan or a signature loan. Based on the amount of money you will be borrowing, which translates into higher risk for the lender, it is clearly in your best interests to start paying attention to your credit score, how it is calculated, and what you can do to raise your credit score.

In the eyes of the mortgage lender, the higher your credit score is, the less risk they feel like they will be assuming, which translates into a better mortgage loan program for you, better terms, lower down payment on the loan, better interest rate, lower closing costs, and many other factors that will either save you money or cost you more money, depending on how diligently you work on achieving your raised credit score.

With a mortgage loan, the lender has a bit of safety factor built in, because your house is really your collateral on the loan. If you default on the mortgage loan, the lender can sell your house and you get nothing. But unless extreme circumstances warrant it, lenders don't like to do that. They make their money with loans, not by selling houses where the previous owner defaulted.

In the mortgage loan evaluation process, your credit reports from all three major credit bureaus will be analyzed thoroughly. Any skeletons in your credit closet will be exposed and you will be asked about them, even if it was from several years ago. Know this up front because chances are better than excellent that this WILL happen …. IF those entries are still on your credit report.

This is where knowing what you can do to raise your credit score comes into play, because you have rights under the law. One of those rights is that erroneous entries on your credit report can (and SHOULD) be disputed by you, and the credit bureau who is reporting that data then has 30 days to either verify it, or if it cannot be verified, it must be removed. You are the only one who can dispute data on your credit report, so get a copy of your credit report and start looking for errors.

Here's another reason why this step is so critically important: studies have shown that the majority of consumer credit reports have errors on them. This only makes sense, because creditors and lenders typically only report to one of the three credit bureaus, and since they do not share data between them, it is a fact that not one of them has an entirely accurate picture of your credit history. That loan that you paid off three years ago might be showing as paid off with one agency, but might also be showing as still outstanding, past due, or even charged off by another agency. These errors all tie together to lower your overall credit score, so it is obviously worth your time and effort to get them disputed and corrected.

Another thing you can do is to make each and every one of your credit card and loan payments on time with at least the minimum amount due. Unfortunately, this is really a "history" thing, so if you are going to apply for a mortgage two months from now and have not been making timely payments before now, your mortgage loan is going to suffer. Making timely payments accounts for about 30-35% of your total score when your credit score is calculated.

If you have credit cards with outstanding balances on them, that is ok, as long as none of them are past due. Your best bet is to make payments on them such that you NEVER exceed your credit limit, and that your outstanding balance is less than about one third of your credit limit. This tells your mortgage lender that you are not abusing your credit privileges by "living on the edge" of your credit limits.

Bottom line: to get the best mortgage loan possible, take the time beforehand to review your credit report so that it looks as good as possible to the lender. The time and effort you put into this will pay itself back in spades. For more insights and additional information on how to Raise Your Credit Score as well as getting free copies of your credit reports from the major credit bureaus, please visit our web site at

Related Articles - credit score, mortgage loan, credit report, raise credit score, fico score,

Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.


Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
Please enter the code in the image:

 Author Login 
Register for Author Account


Advertiser Login


   Limited Time $60 Offer!
   90  Days-1.5 Million Views  


Great Paranormal Romance


Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more

Stevert Mckenzie, Travel Enthusiast. ...more

Kiranpreet (Kiran) Kaur, D.D.S., who received her Doctor of Dental Surgery degree from the prestigio...more

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more

Steve Burgess is a freelance technology writer, a practicing computer forensics specialist as the pr...more

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more

I am not a writer nor am I trying to become a writer. I am an average person with average intelligen...more

Joanna Morgan has a huge passion for making money online from home and enjoys traveling around the w...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2019, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from under the GNU FDL license