Lenders will want to verify that you have not borrowed the money, so it is important that you save the money and show deposits into your checking or savings account.
Read on and learn about what you can do to better your chances to get approved for a home mortgage.
Use online calculators which can help you estimate how much mortgage you can afford to pay monthly.Understand the difference between a mortgage broker and a mortgage lender.
A mortgage broker is a middle man, who helps you shop for loans from several different lenders.
A mortgage lender is the direct source for a loan.After you've been approved for your home mortgage and are ready to move in, consider starting a home emergency fund right away.
Being a homeowner means always being prepared for the unexpected, so having a stash of cash stored away is a very smart move.