mortagesandforeclosures

by Danny Brooks

Congratulations! For what you say? For choosing Dallas. If your reading this article then I can come to the assumption that your getting a Dallas mortgage to buy a house in Dallas. This great city has a population of over 1.3 million people and growing. To add to this the wider metropolitan area has over 6 million people! It is one of the largest in the united states and the fastest growing. This is great news since your buying into a growing market.

In general the real estate market for the entire United States was shocking. The only real exception to this was Texas. Now I know it didn't do great, but compared to the rest of the country it fared pretty well. The majority of the country saw a deprecation in prices of 20 and 30%! Texas on the other hand only had on average a price reduction of 3%, and this includes Dallas. Even it can be said that Dallas has been hit by the down turn in the housing market, but this year it is all turning around. Prices have started to level and we are seeing the bottom of the market.

If your getting a Dallas home mortgage then this is some great news! You are buying at the bottom of the market. An investors dream! You do need to be very careful though when buying you home loan. If your not careful you could end up paying more than you have to and it may cost you bundle. Here are some things that may help.

1) Shop till you drop: Check in at every local lender you know, search the internet until your eyes bleed. You MUST know you are getting the right loan for your situation. And you wont know this until look at as many options as you can. Not all lenders are the same, dont be fooled.

2) Get your credit sorted: If you want to get pre-qualified you need some good credit. That means checking what your credit report score is all three major credit checking agencies. Get all three and take an average of these to determine your score. Ideally you should have a good score on all three independently as you don't know which one which bank will use.

3) Set a budget: Set one and dont deviated from it. No one knows your fiances as well as you do. Make sure you know your limits. If a house is out of your price range then be prepared to pass on it and get another. The last thing you want is a huge mortgage loan that you cant meet the repayments on. The bank may foreclose on your house!

4) Trust your lender: If you feel like you cant trust your lender the it is best to choose someone else. Test out their customer service; ask them to change a term in the contract, ask them to reduce the closing costs, what are their reactions? If they wont help you now what chance do you have once the loan is closed?

Follow these guide lines and you'll do just fine. I hope this helps you in your search for a Dallas mortgage. Always keep in mind that the decision you make now will last close to a life time (maybe not, but sometimes it feels like that!).

About the Author:

Dont get fed the wrong information. Make sure you get mortgage information specific to your city. A Dallas home mortgage will be very different to a Baltimore home mortgage, mostly because of the rate involved. Make sure you get up to date information for your city by visiting mortgagesandhomeloans.net.

Get all the information and photos:: http://mortgagewide.info/important-mortgage-loans-advice/