When Buying Or Refinancing A Home…
There are 5 very important things everyone should know when buying or refinancing a home. Each of the 5 things listed below could slow down your loan process or even stop your loan dead in on the tracks.
Do not purchase any large ticket items until your loan closes. Most stores will let you pick out your large appliances such as refrigerators, washer and dryer and put them on hold until your loan closes.
Make sure you do not miss any scheduled payments to your creditors such as credit cards, student loans, car loans, etc… as this will most likely result in added time to you loan or a denial of the loan.
Try not to transfer assets around unless it’s necessary and make sure to communicate to me before you move your assets. Moving assets around causes more documentation required by the underwriter and may result in a later close date.
Do not pull or allow anyone to pull your credit until the loan has closed. Underwriters do not want to see unexplained inquiries on your credit and will ask for added documentation to prove you have not incurred more debt.
Try not to change your current employment until the loan has closed. A change in employment maybe disastrous to your loan and result in your loan not being approved.
Please call me to apply for your home loan today. I am here to help you.
Kathleen Beck 916-722-0395, Kathleen@BeckHomeLoanPro.com
Mortgage Lender NMLS #243181 BRE #01058848