Are you wondering if you can get a mortgage? Well no one can answer this except yourself as you will know if you are capable of affording a mortgage or not.   Taking on a mortgage is one of the most costly undertakings you will probably make in your lifetime and they are not short term, they can run from 10 to even 40 years, so the commitment is very long-term.

If you don’t have a job then you will not be able to get a mortgage but if you have bad credit and income then you could be able to get a mortgage.

Astonishingly even if you do not have any money to put down a deposit you are able to get a mortgage. It is possible to get a mortgage today with no money and it is referred to as a ‘100% mortgage’. Also it is possible to get a mortgage as well as money to improve the home and this sort of loan is called a ‘125% mortgage’.

You should be fully aware that there are mortgages out there that actually would be really poor for you such as a mortgage with a high interest rate or one of the mortgages that offer really low interest rates for a short period of time such as 6 months, but then their rates sore when this 6 month term comes to an end. Such mortgages are like the 0% introductory rate credit cards that look very attractive at the start but then sore to a massive APR of 30%!

There are of course many really good deals on the market and that is where we here at Mortgage-calculator.uk.com will be able to help as we can search the market for you.

Your credit rating, rising property taxes and the value of houses on the market today is also an important fact in answering the question ‘can I get a mortgage’. A good example in explaining the ‘value of houses presently’ is that should you take out a 125% mortgage and house prices fall, then you might discover your home has negative equity.

It is essential that you only get a mortgage if you can afford. You need to work out what you can afford; take into account the possibility of interest rate increases; understand that a lender will look into your earnings, debts, credit history, age, where you live and if you are married. Base on this information the lender will use it to ascertain what amount of mortgage you could be entitled to.