Part of the relocation process may involve the purchase of a new home. This is a very exciting time, but the Jacksonville movers here at All My Sons Moving and Storage want to see you get the best deal possible so that you can enjoy your new home at the lowest mortgage rate possible.

Record Your Finances

There are some new mortgage regulations that have recently been put in place, and these regulations require that lenders are able to verify the borrower’s ability to repay the loan. Keeping accurate financial records will help you show your repayment ability, so ensure that you keep track of the following:

· W-2s

· Investment accounts

· Assets

· Bank statements

· Unusual deposits

Take Advantage of Your Leverage as a Buyer

Since mortgage rates have climbed over the past year, many lenders have lost out on some of their refinance business. In order to offset this loss, many lenders will have to turn their attention to buyers, meaning there will be a competitive market for your business. You can use this as leverage to ensure that you get the best deal, so make sure to be patient and explore your options.

Stay Well Within Your Budget

This is simple, yet sound advice. A lender does not want to issue a loan to anyone who will not have much left over after they pay their mortgage and other expenses each month, so exercise financial restraint as you select the home you wish to purchase. As a general rule, your monthly debt obligations should not be more than 43 percent of your income.