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
at 6:00 AM