|
Connie's Blog
"The Seven Don't s Of Mortgage Funding"
"In the mortgage funding process,
there is one final place the buyer can inadvertently stumble -
failing to keep their credit in good standing through the closing.
In the excitement of purchasing their new home
and with the additional things they know they will need to purchase
(new furniture, draperies, artwork, lawn care equipment, etc.),
they may prematurely make financial moves that impact
the final credit check by the lender.
They are usually shocked to find out that they no longer qualify for the loan."*
So ... to avoid additional stress in obtaining your mortgage, review
"The Seven Don'ts of Mortgage Funding"
- Don't change your employment status.
- Don't make any major purchases (cars, furniture, home theater, vacations, etc.
- Don't increase your credit card debt or miss any payments.
- Don't change bank accounts or make undisclosed large deposits.
- Don't apply for a credit card, co-sign a loan or make a credit inquiry.
- Don't spend money you have set aside for closing - not any, not ever.
- Don't delay in providing all paperwork asked for by the mortgage company.
Oh, By the Way ...
Due to all of the media attention regarding the economy,
many buyers believe that there is no mortgage money available to them.
On the contrary, there is mortgage money available.
So, call your mortgage officer to review your qualifications
to identify the programs that may be available to you,
and to obtain a pre-approval letter.
Then, take advantage of the declining prices
and the many choices and opportunities in the market place.
So many properties to choose from.
And ...
If we can provide any service for you in the
process of buying or selling real estate,
just give us a call
or e-mail us
We're happy to help.
781-659-2500
conniewhite@remax.net
|
