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- On November 4, 2015
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- Dubai Mortgage Calculator, Home Finance Dubai, Home Loan, home loan in uae, home loans, Mortgage, mortgage adviser, mortgage assistance, Mortgage Calculator Dubai, mortgage consultant, mortgage in uae, mortgage loan, personal loan in uae
Mortgage Tip: Maintain your credit profile
In the months leading to your home purchase, avoid changing your credit obligations, especially between a preapproval and the closing of your mortgage. The reason? It could hurt your credit score in a way that would raise the rate and fees related to your loan or, at worst, keep you from qualifying altogether.
Don’t close or open any credit cards. Keep balances on your credit cards within normal range so it won’t mess with your debt-to-income ratio, a key factor in determining mortgage rates. And don’t buy a new ride. The car company doesn’t care if you have a house, but your mortgage lender cares if you have a big car payment.