Best ways to qualify for a mortgage before selling your old home

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Type : Buy
Date : 03/11/2022
Location : I-Rise Tower Dubai, United Arab Emirates

 1) Get a Mortgage Pre-Approval
The first and most important step in applying for a mortgage is to get pre-approved. This will give you an estimate of how much money you can borrow based on your current financial situation. Getting pre-approved will also help you understand what kind of interest rate you can expect to pay.

2) Keep Your Credit Score High
Your credit score is one of the most important factors in determining whether or not you will be approved for a mortgage. Be sure to keep your credit score high by paying your bills on time and maintaining a good credit history.

3) Make a Large Down Payment
Making a large down payment on your new home will help you qualify for a better mortgage rate. It will also reduce the amount of money you need to borrow, which can make it easier to get approved for a loan.

4) Find a Cosigner
If you are having trouble qualifying for a mortgage on your own, you may want to find a co-signer. A cosigner is someone who agrees to sign the loan with you and is responsible for making payments if you default on the loan.

5) Get a Mortgage From a Private Lender
​If you are having trouble qualifying for a mortgage from a bank or credit union, you may want to consider getting a loan from a private lender. Private lenders often have more flexible lending criteria than banks and credit unions, making it easier to get approved for a loan.

Location

I-Rise Tower Dubai, United Arab Emirates
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