Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Categories
Tip of the Day

Tip of the Day Don't try to Pick Stocks

Don't try to Pick Stocks - Some of us when we have extra money think that we can invest it in the stock market and earn some returns on...

read entire tip

Recently Added
Other Great Sites
 

Check Credit Mortgage

Everybody has a dream to own their own house and many have realised this, through a mortgage. Before applying one must check credit mortgage and how much one can afford to pay per month. Usually lenders and banks have a standard formula, which says that a person can afford thrice his gross annual income, as the total mortgage on a house. This may not apply to everybody and you should consider your own level of spending before you apply for a mortgage based on this formula.

Mortgage companies expect to take about 40% of your monthly income as mortgage payments. So if a person is earning $3000 a month the lender will feel he can make a payment of no more than $1200 every month. Again here you have to think whether you can manage all your other expenses in the remaining 60% of your income.

Apart from all these formulas the lenders will mainly base their decisions after studying your credit report and knowing your credit score. The three credit bureaus Experian, TransUnion and Equifax, are the main agencies which record all the financial and credit information for each individual, provided to them from different sources like banks, courts, credit card companies and other companies. Based on this information the bureaus compile a credit report for each individual which will show the payment history, defaults, total amount of loans, court cases and so on. This report will give a thorough picture of the individual's financial status and his creditworthiness. The bureaus will apply certain formulas to the amounts mentioned in the report and come out with one figure which will be the credit score.

All lenders will check credit score before sanctioning any mortgage. If the credit score is high, it means that the person has a high creditworthiness and there is very less risk involved in giving him a mortgage. A high credit score will also bring down the rate of interest and the person's mortgage application will not be rejected.

So you can check your credit score before applying for a mortgage, so that you have a fair idea of what to expect. You can also take steps to improve your credit score, by paying your debts on time and having very little spending on your credit cards. Once you improve your credit score you have a better chance of your mortgage approval at a lower interest rate.

Discuss It!
1 2 >

Towelroot  said:

Rooting Android devices have become one of the coolest things in the world today. Some users are not much supportive of the fact that there are limitations that affect the utility of their smartphones.

Default Gateway Not Available Ethernet said:

The principle regular purpose behind The Default

https://www.youtube.com/watch?v=Jg6Pf72-rB8 said:

I see you got really shockingly solid subjects ,Truly mixed ! Everything is particularly open and clear light of issues.

e challan hyderabad said:

e challan hyderabad Paying e challan hyderabad is so easy now-a-days

cost to finish a basement said:

The article has really beat my inclination. I am going to bookmark your site and keep up checking for glimmering new data.

brian holm lawyer san diego said:

Positive site page, where did u think about the data on this posting ?I have paid extraordinary identity to a couple the articles on your site now, and I extremely like your style.

Security Service Monaco said:

Awesome article! I want people to know just how good this information is in your article. Itâs interesting, compelling content. Your views are much like my own concerning this subject.

10 day green smoothie cleanse said:

This particular is usually apparently essential and moreover outstanding truth along with for sure fair-minded and moreover admittedly useful My business is looking to find in advance designed for this specific useful stuffsâ¦

Gabourey Sidibe Weigh said:

Very efficiently written information. It will be beneficial to anybody who utilizes it, including me. Keep up the good work. For sure i will check out more posts. This site seems to get a good amount of visitors.

read what he said said:

This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value of providing a quality resource for free.

Brain Exercises said:

Very efficiently written information. It will be beneficial to anybody who utilizes it, including me. Keep up the good work. For sure i will check out more posts. This site seems to get a good amount of visitors.

Security Service Switzerland said:

I am impressed. I don't think Ive met anyone who knows as much about this subject as you do. You are truly well informed and very intelligent. You wrote something that people could understand and made the subject intriguing for everyone. Really, great blog you have got here.

Boruto Naruto Next Generations said:

Thanks for a very interesting blog. What else may I get that kind of info written in such a perfect approach? Iâve a undertaking that I am simply now operating on, and I have been at the look out for such info.

agen poker online said:

Iâm going to read this. Iâll be sure to come back. thanks for sharing. and also This article gives the light in which we can observe the reality. this is very nice one and gives indepth information. thanks for this nice article...

ppsspp games said:

Wow! Such an amazing and helpful post this is. I really really love it. It's so good and so awesome. I am just amazed. I hope that you continue to do your work like this in the future also

sociedades urgentes a la venta said:

I was surfing the Internet for information and came across your blog. I am impressed by the information you have on this blog. It shows how well you understand this subject.

logo design service said:

We have sell some products of different custom boxes.it is very useful and very low price please visits this site thanks and please share this post with your friends.

bandar ceme said:

Thanks for sharing nice information with us. i like your post and all you share with us is uptodate and quite informative, i would like to bookmark the page so i can come here again to read you, as you have done a wonderful job.

russian brides said:

Iâm going to read this. Iâll be sure to come back. thanks for sharing. and also This article gives the light in which we can observe the reality. this is very nice one and gives indepth information. thanks for this nice article...

pet cbd discount said:

Very informative post! There is a lot of information here that can help any business get started with a successful social networking campaign.

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Real Estate Investment Trust (REIT)

Definition: A security that trades as a stock on the stock exchange, but invests in real estate and/or mortgages. TeenAnalyst Advice: REIT's are special trusts that receive tax advantages from the government.  They're obligated to pay out 90% or more of their earnings to investors in the form of dividends so...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com