Once you've found the right home and applied for a mortgage loan, there are some KEY things to avoid so you continue to qualify for your loan when it's time to close on your home. #1. DON'T Deposit Any Cash Into Your Bank Accounts Before Speaking To Your Banker Or Loan Officer.
While normally we celebrate depositing money into an account, you don't want to put any 'sizable' amount of funds in an account while you're waiting for a mortgage loan. Unless you can prove the deposit is legit, that additional money can lead to the Underwriter denying your loan. #2. DO NOT Make Any Large Purchases, Like A New Car Or Furniture For Your Home!
We know it's tempting to want a new ride to park in your new garage or want to furnish your new pad ... WAIT!!! This can affect both your credit score and debt to income ratio, which can cause the amount you initially qualified for to be reduced. Not to mention, racking up additional debt before factoring in a mortgage payment m ...
To continue searching, you must agree to the Terms of Use.
Opt-In
For the best experience, please provide your cell phone number and select accept below to opt-in to our Terms & Conditions and Privacy Policy to begin receiving text and voice communications.
Share a Link
Create a Note
Select a Notebook
or make a new notebook
Loading...
Looks like your phone is invalid.
Would you like to update it?
Free Access
Access full property details and exclusive listings. (Prices and inventory current as of September 28, 2023)
Free Access
Free Access
Claim Your Home
Verify the value of your home, maximize your investment and see local market activity.
Almost there!
We just need your phone number to finish creating your account.