And it is critical before you start looking for your dream home that you determine how much home you can afford.  Your loan officer at Crown Mortgage of the West will be happy to help you in figuring that out.  This is a determination that is impossible to figure out with a simple mortgage calculator. It is a dynamic process that requires the help of an expert.
Among the determining factors in deciding how much home you can afford is your credit score, commonly known as your FICO Score.  This score plays a huge factor in determining not only approval or disapproval of your loan but also what your interest rate and the loan terms will be.  We at Crown Mortgage of the West have been a benefit in helping borrowers improve their score, saving them thousands and thousands of dollars.
Another critical thing to remember when shopping for your new mortgage is to not take out any new credit during the process.  Do not buy a new truck, boat or anything else that will require monthly payments or will eat up any of your hard-earned cash that was saved for your down payment. Do not take out any new credit cards and DO NOT quit your job!