01/10/2024
Avoid These Common Mistakes After Applying for a Mortgage
If you’re getting ready to buy a home, there are some key things to keep in mind after you apply for your mortgage and before you close. Here’s a list of things to remember when you apply for your home loan.
Don’t Deposit Large Sums of Cash
Lenders need to source your money, and cash isn’t easily traceable. Discuss the proper way to document your transactions with your loan officer.
Don’t Make Any Large Purchases
It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. Resist the temptation to make any large purchases, even for furniture or appliances.
Don’t Cosign Loans for Anyone
When you cosign for a loan, you’re making yourself accountable for that loan’s success and repayment.
Don’t Switch Bank Accounts
Lenders need to source and track your assets. Before you transfer...
If you’re getting ready to buy a home, it’s exciting to jump a few steps ahead and think about moving in and making it your own.
