Do’s and Don’ts During The Loan Process
- Continue to make all of your monthly payments on time (including those that are in dispute).
- Pay off as many debts as you can, but avoid closing any of your revolving credit accounts (such as credit cards).
- Save as much money as you can toward your down payment.The larger your down payment, the better!
- Take into account your current spending levels and housing expenses when evaluating how much you want to spend for your new home.
- Hold off on making any signifcant career moves or changing your pay structure (such as transitioning from a salaried position to a 100% commission job).
- Resist the temptation to make any big purchase using either existing credit cards or new lines of credit.
- Avoid making unusual deposits or transfers into your checking and savings accounts, and check with your lender to learn how to properly document any gift funds you receive.
- Don't just get pre-qualified for a mortgage. Get pre-approved because this will improve your negotiating leverage and buying power.
Home Buyer Tips
- 2 Myths That May Be Holding You Back From Buying
- 5 Reasons Home Ownership is a Good Financial Investment
- Do’s and Don’ts During The Loan Process
- FHA 90 Day Property Flip Waiver
- Getting a Mortgage: Why So Much Paperwork?
- How to know if it’s a condo?
- Look for a Luxury Home? Now’s The Time To Act!
- Ready To Make An Offer? 4 Tips For Success
- The Perfect Home Loan Application
- What You Need To Know About VA Loans