New Mortgage Simulator Empowers Loan Applicants (NAPSA)—If youre ever searching to unlock the mystery of how mortgage lenders view you when you apply for a homeloan, look to your computer. An online tool at truecredit.com/ mortgage offers a “Mortgage Simulator” that delivers a report customized for you based not only on debt, income and target home information, but also on your most up-to-date credit information. It then deliversa listing of mortgage rates for which you should qualify, based on a nationwide survey of rates from the Heitman Group. Rates are continuously updated so you can also check back to see if your rates have changed. The site also has a “What If’ tool that helps illustrate how changing various factors—such as a current credit score or debt-to-income ratio—can improve your borrowing power. Sliding the toolbar in a category quickly illustrates how that potential change can impact what you'll pay for years to come. For most people, this should be a real motivator toward taking steps in the right direction. The bottom line is that by automatically factoring your current credit information into its analysis, this Mortgage Simulator can help you view yourself the way a lender will, which can really empoweryou as a loan applicant. Did You Know? e |f your credit needs a boost, you should start actively working to improve yourscore six to 12 months before you plan to secure a new morigage. e A credit-monitoring service can allow you to check all of your reports and scores as often as you want andalert you automatically by e-mail whenevera critical change occurs on any of yourthree reports. There's a wealthoffree credit education information available online that can help you better understand thetopic of credit and how you can learn to manage your own financial health. For more information,visit truecredit.com/mortgage @
