Mortgage Tips 101 | Red Rock Mortgage Knoxville

The team at Red Rock Mortgage Knoxville is ready to put you in a new home this year. But first, here are some tips we’d like to share in order to help you obtain the best mortgage rate possible. Because, let’s face it, why not save where you can, especially on a big investment like a home?

Save on Your Mortgage

First, you want to know some numbers, such as your FICO score. While this number should be known by all, many people are unsure exactly what their FICO score is. Therefore, it’s important for you to know your numbers so that you know whether you need to work on raising your credit score before applying for a mortgage. Habits like paying your bills on time—even early—and having low balances on your credit cards can help improve your credit score in no time!

Second, see what you can do to boost your credit score in order to get a better mortgage rate, especially if your score is in the 600s or below. Start by paying off any debts you might owe, as well as always ensuring you pay your bills on time (or even early). However, make sure you never miss a payment. Even if you are paying the minimum amount on a bill, it needs to be made on time in order to maintain your credit score.

Third, don’t be scared to ask for help or more information about obtaining a home mortgage, especially if you are a first-time homebuyer. Our team at Red Rock Mortgage - Knoxville is happy to schedule a meeting with you in order to discuss your options when it comes to being approved to own a home. Call our office to speak to a knowledgeable and qualified team member who can give you tips and assistance when it comes to house hunting this summer.

If you’re ready to tackle the first step of home buying, which is the mortgage pre-approval process, then contact Red Rock Mortgage Knoxville today to learn how we can help you obtain the best mortgage rate.