July 26, 2015 / admin / 0 Comments
Do you want to get a very advantageous loan that offers the best mortgage rates in Colorado? Review this website first – usmortgages.com. Then you need to avoid making any mistakes. Make sure that you steer clear of these misconceptions:
- Bad credit means no mortgage – While it is easy to see why this would happen, it is not always the case. People who had to deal with a foreclosure and have bad credit will definitely have a hard time getting a loan, but it is not impossible. However, they will have to wait for a very long time to get approved, and they will likely have to pay higher interest rates.
- Fixed-rate mortgages are the best option – This could not be farther from the truth. It all depends on your aims for the future. If you do not plan on staying in the home for too long, then going with a fixed-rate mortgage is a huge mistake, because these are designed to be long-term. It is better to go with an adjustable-rate mortgage instead.
- Pay off the debt as fast as you can – In such situations, it is better to first talk to an experienced financial advisor, to see what the best course of action would be.