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Before you buy a house, you should request quotes from several lenders to get the best interest rate you can. You may have heard that having a lot of credit inquiries can hurt your credit score, but getting several mortgage quotes shouldnt have much of an effect on your score if you request them within a short window of time.

How Can Hard Inquiries Affect Your Credit Scores?
A hard inquiry is a formal review of an individuals credit report. It happens when a consumer applies for a loan or credit card. When you apply for a mortgage, lenders will make hard inquiries that will be reported to the three major credit reporting bureaus: TransUnion, Equifax and Experian.

If you applied for several credit cards in a short period of time, numerous hard inquiries would hurt your credit score. Applying for multiple lines of credit could create the impression that you were in financial trouble. Things will work differently if you request several mortgage quotes.

Credit bureaus understand that people who are interested in buying a house shop around for competitive loan terms. If numerous mortgage lenders pull your credit reports in a short period of time, the credit bureaus will treat all those hard inquiries as if they were only a single review of your credit report. That means that you can request mortgage quotes from as many lenders as you would like without worrying that it would cause major damage to your credit score.

When to Request Mortgage Quotes
There are several FICO scoring models and lenders can decide which to use. If lenders use the new model, all credit pulls related to mortgage inquiries that are done within 45 days count as one inquiry. If lenders use the older scoring model, the window is shorter. In that case, all inquiries within 14 days count as one inquiry.

To be on the safe side, request all your mortgage quotes within a 14-day period. Applying for several mortgage quotes in two weeks is not as difficult as you may think. All the lenders will ask for the same information. You might even be able to get all the applications done within a few days.

How Much Will Your Credit Score be Affected?
Although hard inquiries can lower your credit score, requesting mortgage quotes will likely have a small effect on your score. The exact amount of the decline will depend on your individual circumstances. If you have a lengthy credit history and pay your bills on time, your score wont be affected as much as it would be for someone with a shorter credit history.

Check Your Credit Reports
Before you apply for mortgage quotes, request copies of your credit reports. If you find any errors, dispute them so that when you apply for a mortgage, lenders will have accurate data and you wont be penalized for outdated or erroneous information.

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For many families, having enough storage space is essential.

To avoid clutter, consider these factors before buying a home:

Are the closets big enough to fit all your clothes or kids toys?

Does the bathroom allow enough dedicated space for cosmetics and toiletries?

Would a lack of food storage cut into space for cookware in the kitchen?

Is there a garage or shed for your tools and lawn care equipment?

Take stock of what your family owns, and make sure a new home has enough space to store it.

A real estate agent can help find a home thats the right fit for you.

Published with permission from RISMedia.

If youre planning to buy a house, one of the most important decisions you will make is whether to get a fixed-rate or adjustable-rate mortgage. Make sure you understand how both work and consider your current circumstances and future plans before choosing.

Key Differences
With a fixed-rate mortgage, the interest rate remains constant over the life of the loan. An adjustable rate mortgage (ARM) has an introductory rate that is below the market rate for a fixed-rate mortgage. After one or several years, the rate begins to reset periodically based on market conditions. An ARM may have caps to limit the amount the interest rate can increase at once, a ceiling on the interest rate and a cap on monthly payments.

Pros and Cons
A fixed rate-mortgage could allow you to have consistent monthly payments. An ARM might be much less expensive than a fixed-rate mortgage in the period before the loan reset. Those lower initial payments might make it possible for you to afford a more expensive house with an ARM than you could with a fixed-rate loan.

The danger of an ARM is the unpredictability. Your monthly payments could rise significantly several times over the life of the loan. If you chose an ARM and the interest rate rose, you might be able to refinance to another ARM or to a fixed-rate loan, but there would be no guarantee. A lender would consider your income at the time, the amount of equity and other factors, as well as the overall state of the economy. Even if you were able to refinance to a lower rate, you would have to pay closing costs.

Which Is Right for You?
ARMs tend to appeal to first-time homebuyers who expect their incomes to rise in the future or who plan to have children and move in a few years. If you expect your income to increase as you move up the ranks in your company, or if you plan to earn a degree and get a better job, an ARM could be a good bet. You could have low payments now, pay more in the future when you have a higher income and pay less over the life of the mortgage than you would with a fixed-rate loan.

Consider your financial circumstances, including your income and how much you expect to earn in the future, as well as how long you plan to live in the house. If you would be able to afford higher payments later, or if you plan to move before the interest rate would reset, an ARM could save you money. If you plan to stay in the house longer, a fixed rate could give you peace of mind.

Look at the specific terms of different loan options. If you are considering an ARM, figure out how much your monthly payments would be in a worst-case scenario. If you couldnt afford that amount, a fixed-rate mortgage could be a safer option, even if it might cost you more at first.

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Here are some of todays trendiest types of high-end tiles!

Travertine

This strong but porous tile is a classic option for lavish floors inside the home or on the terrace.

Marble

Marble floors will add instant luxurious appeal to any room and can come in a variety of colors.

Terrazzo

A composite material that originated in Venice in the 18th century, its intricate textures feel like a true work of art.

Glass Mosaic

Ideal for your bathroom or personal wellness area, glass mosaic tile floors demonstrate high attention to detail.

Handmade Terracotta

For the rustic look of a deep red clay, handmade terracotta tiles are a beautiful, down-to-earth option.

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