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Seven steps to a mortgage

Get your papers in order, your wallet at the ready and your ducks in a row -- we're applying for a mortgage.

Getting a mortgage is going to take some time. You're borrowing tens of thousands, maybe even hundreds of thousands of dollars. Even with an A-one credit rating, no one's handing over that much money in an afternoon. You'll want to get a head start on the mortgage process so the house of your dreams doesn't slip through your fingers.

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Borrowing huge sums of money to buy a house is a somewhat scary yet exhilarating experience. If you're a first-time mortgage shopper, this seven-part story will help you understand the process. Even an experienced home buyer may be asking a few questions.

Seven steps to a mortgage
Part 1: What do I need to start
Part 2: Should I get pre-qualified or pre-approved

Part 3: What type of loan is right for me?

Part 4: Who'll be my lender?

Part 5: What's the difference between a broker and a lender?
Part 6: How does the application process work?
Part 7: What do I pay for to get a mortgage?

-- Posted: Aug. 26, 1999

 

 

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