Foreclosure is a more and more common occurence in the U.S. Last year over 2 million of these took place and this is why it is wise to save as much as possible on a mortgage loan. If you are in the market to buy a home, you don’t want to lose it to foreclosure. Property presents a valuable long term investment and in this article we’ll see how to keep that investment. I’ve been reading a lot about geld lenen met bkr in Dutch.

It is very rare that anyone buying property is able to purchase it outright. People do not walk around with wads of cash stuffed into their pockets and if they did it is highly unlikely they would use it to purchase property. Mortgages are a long-term loan and generally run for between 15 to 30 years. It is for this reason that it is important to realize any savings you can.

Three years is the absolute minimum period of time you should live in a house before selling it. If you don’t intend to do this, don’t buy! The costs of moving are pretty substantial and this would eat into any profits you make, if there are any to be made. Your property has to appreciate at least 15% to make money, and this rarely happens in so short a time as three years.

Make sure you pay attention to your finances before even applying for a mortgage loan. Get a credit report and dispute anything you don’t agree with. Pay off your credit cards if you can, because they have high interest and paying them will save you a great deal of money in the long term. Make sure you have paid all of your bills on time this will increase your credit score. The better your credit rating, the lower the interest on your mortgage will be.

Never take a loan which covers interest payments only, this is a bad decision. Take the loan over the longest possible period. This is because the longer the loan period the lower both the interest rate and the repayments on the mortgage loan will be. 30 year mortgages have lower interest rates and lower repayments which makes them more easy to afford.