Tuesday, February 25, 2014

Want To Buy A Home? Avoid These 6 Costly Mistakes

The 6 "Do Nots" before buying a home!

1. Don't Change Jobs
-Need to show lenders stability

2. Don't Change Banks
-Same reason as # 1

3. Don't Buy That Sports Car or Any Other Car For That Matter
-This increased your debt-to-income ratio (if financing)

4. Don't Buy Furniture, Sit on Crates if You To...Yep something my mom would say and did!
-Big ticket items increase your debt-to-income ratio, just like the sports car in # 3

5. Don't Be Late on Credit Card Payments
-Need to show clean track record and responsibility

6. Don't Make Large Deposits/Withdrawals From Your Bank
-Lender will want an explanation. Should have closing funds in your bank at least 2 months before closing

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