While it can appear overwhelming, at its core, the home mortgage process is actually pretty simple: you’re borrowing a large sum of money and your lender wants to make sure you’re good for it.
Still, there’s a lot that goes on in the course of getting a home loan and it’s common for first-time buyers to feel like they have a ton of unanswered questions swimming around in their heads. Thankfully, Quizzologists are here to clear things up a bit.
Here are ten frequently asked questions about the home mortgage process and links to their answers from the Quizzle blog and beyond:
1. How important is my credit score to getting a mortgage loan?
2. Is it the right time to buy a house?
3. If I’m denied a loan, does that mean I’ll never get one?
4. What are Discount Mortgage Points and should I buy them?
5. Should I make an extra mortgage payment?
6. Is Mortgage Life Insurance worth the cost?
7. What is Mortgage Recasting?
8. How does a Reverse Mortgage work?
9. Can I qualify for a new loan if I’ve made late mortgage payments?
10. If I’m changing jobs, can that impact my prospects for a loan?