If you are in the process of buying a home, remember you do not want to do anything that will change your credit or affect it in any way until after you close on your home. Lenders will look into your credit when you first get pre-approved, and then check it again (and maybe a few more times) before you are able to sign the mortgage. Please do not get excited and buy new furniture for your home or change jobs, just be patient. There will always be time to do it after the closing!!
1. Thou shalt not change jobs, become self-employed or quit your job.
2. Thou shalt not buy a car, truck or van (or you may be living in it)!
3. Thou shalt not use credit cards excessively or let your accounts fall behind.
4. Thou shalt not spend money you have set aside for closing.
5. Thou shalt not omit debts or liabilities from your loan application.
6. Thou shalt not buy furniture.
7. Thou shalt not originate any inquiries into your credit.
8. Thou shalt not make large deposits without first checking with your loan officer.
9. Thou shalt not change bank accounts.
10. Thou shalt not co-sign a loan for anyone.
If you are thinking about buying a new home anytime soon these things are good for you to follow too. Following these rules will allow you to have more buying power.
Author:Chip Franks Phone: 254-291-1337 Dated: March 2nd 2015 Views: 685 About Chip: The Supreme Commander of The Real Estate MarketPlace and A Good Guy, In General!
Ron "Chip" Frank...
My last post covered the benefits of hiring a realtor. By now, yo
"I found Real Estate Market Place because they called me, they were very responsive to my needs, but were not pushy like the other places I had spoke with. They worked with my schedule and really took the time out and looked for my needs. TREMP is absolutely wonderful to work with and I love the friendliness and the way everything was explained to me from start to finish. I would use them again and recommend them to anyone.