 TITLE: Is it Better to Own a Home or Rent? CONTENT: What to Consider Before Getting a Mortgage\n------------------------------------------\nBuying a home is a massive decision in more ways than one. Not only do you have to find a home you'd be happy in, you've got to figure out how to pay for it. To determine if you're truly prepared for a mortgage, assess what you have saved for a down payment and what you could reasonably afford for a monthly payment. Make sure to leave enough room in your budget for savings, travel or any other financial goals.\nWhen mortgage lenders review your application, they closely scrutinize your credit, so it's essential to check your credit report before shopping for a house. Your credit and other factors, such as your debt-to-income ratio, are important to lenders deciding whether to approve your mortgage application and what interest rate and terms to grant you. If there are blemishes in your credit history, it's best to work on them before applying for a mortgage. A lower interest rate could save you thousands over the life of your mortgage.\nHomeownership can be truly rewarding if you know where your budget and credit stand and you've considered all advantages and drawbacks. END