Finding the best mortgage rate is one of the most important aspects of buying a home. A top mortgage rate could save Philadelphians tens of thousands of dollars over 30 years.
There are a few steps you can take to make sure you get the best mortgage rate in Philadelphia.
- Check your credit score. You can use <link> Go Free Credit <link> to access your credit score from the three major credit reporting bureaus – Experian, Equifax, and TransUnion.
- Search mortgage rates on Philadelphia Banking Rates and find a bank offering the best rate.
- Decide how much you are willing and able to put down on the home.
- Get all your necessary paperwork before meeting with a lender:
- Tax returns for the past two years.
- W-2 income statements.
- Two most recent pay stubs.
- Most recent credit card statements.
- Most recent bank and investment account statements.