Key items all new home buyers need to keep in mind.
Are you preparing to buy a new home? The items below are the most important things you need to remember once you have an offer that is accepted. We see so many buyers who are excited about their future home and make the mistake of purchasing furniture or applying for a new credit card. These seemingly simple actions can have major repercussions on your ability to secure a mortgage loan. We advise our clients to be patient and mindful so that they can enjoy a smooth journey to the closing table.
- Do not change jobs, become self-employed or quit your job.
- Do not buy a car, truck, van, RV, boat etc (or you may be living in or on it!)
- Do not use credit cards excessively or let current accounts fall behind.
- Do not spend money you set aside for closing and/ or your down payment.
- Do not omit debts or liabilities from your loan application.
- Do not buy furniture.
- Do not originate any inquires into your credit.
- Do not make large deposits without checking with your loan officer.
- Do not change bank accounts.
- Do not co-sign a loan for anyone.
Contact us to learn more or get started on your home search.