8 No-No’s Before Applying For A Mortgage

8 No-No’s Before Applying For A Mortgage

What Not To Do Before Applying For A MortgageIf you’re looking to buy a new house, then you need to avoid doing these 8 things.

Don’t apply for a new credit card. When you apply for a new credit card, it can be bad for your credit rating. Just WAIT!

Don’t buy a new car. Just don’t do it, unless you want to live in a new car instead of a new home.

Don’t furnish the home before you own it. Yes, you found the perfect couch, entertainment center, and TV for your home, but don’t buy them until you close on your home.

Avoid changing jobs. Although job changes can provide better pay or a chance for advancement, it could delay your quest for a new home.

Don’t close any credit accounts. Although it makes sense to clean up your finances by canceling unused credit cards and transferring balances but don’t do it. This can be a bad move for your credit score.

Don’t get behind on payments. Make sure you stay on top of your credit card and rent payments.

Don’t move money without a paper trail. Your lender is going to need documentation for all your transactions to make sure you really have enough money.

Don’t spend your savings. You’re going to need cash for a down payment, and if you end up paying closing costs.

Contact us today and we’ll help you navigate the murky real estate waters.

www.maryrobins4homes.com | 610.220.7145

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