The First-Time Home Buyer’s Guide to Getting the Best Possible Mortgage Rate

Whether they’re found online or heard from family and friends, there are so many mortgage tips out there that it can be hard to know exactly how to proceed. But, if you’re new to the market, there are a few surefire things you can do to get a mortgage rate you’ll feel good about. For some of the best tips on getting a great loan, look no further than the following.

Know Your Credit History

It’s a simple fact that one of the most important factors in your mortgage application is your credit history, so good or fair, it’s important to be aware of where you stand. While the acceptable credit score for mortgage approval can fluctuate, the best rates are often available to those with a score that is higher than 760. In order to improve your chances, get a copy of your credit report and pay attention to any discrepancies that might be in it. These can have a negative impact on your score and your application, so you’ll want to have them revised if they’re incorrect.

Save Your Down Payment

It’s not a requirement of mortgage approval to put 20% down, but a down payment of this size will lower your debt-to-income ratio and will make you a more solid bet for the lender. By having 20% in the bank to go towards your home investment, you will also be able to qualify for a lower rate. Not only this, you will not be required to pay mortgage insurance which means a lowered monthly payment and a higher disposable income in the event of market fluctuations.

Consult With A Mortgage Professional

You may want to pursue a mortgage on your own, but having a professional to help you with the process can be beneficial for a number of reasons. A mortgage expert will not only be aware of market conditions, they will have a relationship with the lenders that means they may be able to get you a rate you wouldn’t be offered on your own. While you may want to go it alone, there are benefits to consulting a professional.

There’s a lot involved in the mortgage process, but by putting 20 percent down and having a good credit history, you’ll be well on your way to a great rate.

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20603 N Echo Mesa Drive Sun City West, AZ 85375

$460,000

2 Beds

2 Baths

2,103 SqFt

Status Active

MLS # 6680198

Property Type Single Family Residence

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Popular San Carlos model with 2 large bedrooms, 2 bathrooms, vaulted ceilings and HUGE utility/laundry room-perfect for crafting or if you need extra space & already plumbed. Kitchen has tons of cabinets w pull-out drawers, granite countertops, island, newer appliances and opens up to the large Arizona room. Skylights & solar tubes offer bright, natural light. You will love the rear, large 20' X 24' enclosed, screened patio room that offers space for entertaining or enjoying the beautiful weather. Desirable North/South exposure, situated in a cul-de-sac, corner lot in Echo Mesa area-close to Sun City West amenities and shopping! No HOA fees and low tax area!

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2813 Hidden Creek Circle Happy Jack, AZ 86024

$460,000

2 Beds

2 Baths

1,252 SqFt

Status Active

MLS # 6688152

Property Type Single Family Residence

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Escape to the pines in this charming property located in the Starlight Pines Community. This home was built in 2021 and ready for its new owner! As you enter the home you will see a bright and open living room, kitchen, and dining area. The kitchen has beautiful white cabinets with an island and stainless appliances. The home has neutral paint, upgraded lighting and fixtures, laminate flooring and granite countertops throughout. The inside laundry room is oversized and includes a sink with cabinets. As you enter the Primary bedroom suite you will see a separate sliding door to the back patio. The Primary bathroom has dual sinks, a walk-in tub, a linen closet, and also a walk-in closet. Don't forget about the relaxing covered patio overlooking into nature and wildlife at its best.

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8415 N 47th Drive Glendale, AZ 85302

$460,000

5 Beds

2 Baths

2,080 SqFt

Status Active

MLS # 6683949

Property Type Single Family Residence

Price Type --

Beautify and well-kept 5-bedroom 2-bathroom home with Split Plan, Porcelain tile floors throughout, spacious living room, Dining Area, Family Rooms plus hallways. Huge pebble diving pool recent replastered, Kitchen with plenty of natural light, Double Pantries. Backyard with a covered patio. Split bedroom plan offers privacy. Close to School and I-17 Freeway and NO HOA.

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630 Ringtail Road Wickenburg, AZ 85390

$460,000

4 Beds

2 Baths

1,805 SqFt

Status Active

MLS # 6686092

Property Type Single Family Residence

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Welcome to your dream home nestled in the heart of Wickenburg, where modern elegance meets comfort. This stunning 4-bedroom residence boasts a perfect blend of contemporary design and timeless charm, offering an exceptional living experience. Step inside to a spacious living area that welcomes you with abundant natural light, creating an inviting ambiance for gatherings and relaxation alike. Enjoy the convenience of updated appliances in the sleek, gourmet kitchen, where culinary adventures await. Outside your oversized lot offers endless possibilities for outdoor entertainment, from al fresco dining to tranquil moments basking in the Arizona sun. Marvel at fantastic views of the mountains. Conveniently located in the heart of Wickenburg, this residence offers easy access to a wealth of amenities, including shopping, dining, arenas and entertainment options. Explore the vibrant local community and discover why Wickenburg is beloved for its small-town charm and rich western heritage. Seize the opportunity to make this exceptional property your own and experience the epitome of modern living in Wickenburg.

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