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    Understanding the loan process: So you want to buy a house?

    Prior to shopping for a mortgage, check your credit and make sure there are no surprises. Contact the bureaus and dispute any items that aren’t yours, and possibly pay off a few collection items, or lower those credit card balances. Also, having an idea of how much house you can afford, as well as, an idea of what you can afford to put down on a house, and if you have adequate funds for closing costs would be a good idea too. Credit wise, a score of at least 620 would be a good idea, though there are a few loan programs for borrowers with a lower score. These are…

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    Few Bad Credit Mortgages in Housing Slump: To Find Bad Credit Home Loans Use a Whole of Market Mortgage Broker

    The very best mortgage deals are now only available to those with an excellent credit history and have a deposit of between 30% and 40% of the house value. If someone’s credit history is good, with only a few minor blemishes, and they have a deposit of between 20% and 30% of the house value, the chances are they will still find a fairly decent mortgage. Self-certification Mortgage For the people who only have a small deposit and need 100% mortgage or are self-employed and need a self-certification mortgage the situation is very different. For those in this category the chances of finding a mortgage are greatly reduced. Bad Credit…

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