August 4, 2014 0likes 690 views Time keeps moving forward no matter what happens in this world. Time never stops. Good news comes, and then bad news comes. Things happen all the time. The mortgage rates go up and then they dip down a little bit. We live in a world that keeps moving just like the time keeps moving. So that is why it is crucial for you to stay on top of your game and keep up with your finances, especially if you are a homeowner with a mortgage or a first-time home owner looking to get a mortgage loan. Here are some tips for mortgage borrowers in Boca Raton. They will definitely help you with your mortgage decisions for the remainder of the year. Document all of your finances. Keep a well-kept record of all you finances. Have copies of your bank statements, tax returns, investment accounts, W-2s, and other assets. Balance your checkbook daily. Make sure you always know how much you have in your bank accounts. Mortgage lenders are very diligent when they are underwriting home loans. Be ready to explain any unusual deposits to your accounts. Your parents’ $500 Christmas cash gift could possibly prolong or delay your home loan closing if you cannot prove when the money came from. Decide on a mortgage rate as soon as you can. As previously mentioned, the mortgage rates are constantly changing. It is better to decide on a mortgage rate as soon as you can at a rate that you agree on, then to keep waiting until the mortgage rates ever get as low as you would like them to be. Take care of your credit score. It is nearly impossible to get a home mortgage without a fair or decent credit score nowadays. Monitor your credit history and credit score. Homeowners with a credit score of at least 720 or higher have a much higher chance of getting a great mortgage rate. You may still be able to get a mortgage with a credit score of 680. Lower scores call for higher rates or closing costs. Get educated on your rights as a borrower. New mortgage rules were created by the Consumer Financial Protection Bureau this year. Read them and know them. They will definitely help you and prepare you for any issue that may arise, like if you fall behind on your mortgage payments. Don’t Panic. The best thing to do with getting a mortgage is to work quickly. Don’t get over-stressed about the rates and don’t feel overwhelmed. If you keep a positive mindset and stay well informed about the housing market, you will be ok. If you have a mortgage company that gives you financial advice on paying your mortgage on time and being diligent, you will be more than ok. A good mortgage company will help you in applying for a mortgage loan in Boca Raton and setting up a payment plan. The mortgage lender will explain to you your rights as a borrower and give you all the answers to the question you may have in choosing a mortgage rate. Ace Mortgage Loan Corporation in Coral Springs is one of the trust worthy mortgage companies in South Florida. They work closely with their Boca Raton clients. They are proud to help them get all the mortgage tools they need to enjoy their new homes. If you live in Boca Raton and you are looking for valuable mortgage services from a well-established mortgage broker, call Ace Mortgage Loan Corporation.