This is a list of things to steer clear of when you are seeking to obtain financing for a home. The following items may prove to be a detriment when you wish to move forward with the loan process.
- Don’t buy or lease an auto! Lenders look carefully at your debt-to-income ratio. A large payment such as a car lease or purchase can greatly impact those ratios and prevent you from qualifying for a home loan.
- Don’t move assets from one bank account to another! These transfers show up as new deposits and complicate the application process, as you must then disclose and document the source of funds for each new account. The lender can verify each account as it currently exists. You can consolidate your accounts later if you need to.
- Don’t change jobs! A new job may involve a probation period, which must be satisfied before income from the new job can be considered for qualifying purposes.
- Don’t buy new furniture or major appliances for your new home! If the new purchases increase the amount of debt you are responsible for on a monthly basis, there is the possibility this may disqualify you from getting the loan, or cut down on the available funds you need to meet closing costs.
- Don’t run a TRW report on yourself! This will show as an inquiry on your lenders credit report. Inquiries must be explained in writing.
- Don’t attempt to consolidate bills before speaking with your lender! The lender can advise you if this needs to be done.
- Don’t pack or ship information needed for the loan application! Important paperwork such as W-2 forms, divorce decrees, and tax returns should not be sent with your household goods. Duplicate copies take weeks to obtain, and could stall the closing date on your transaction.
I hope you have enjoyed this special report. We currently have over 40 creative loan programs to fit your needs. Please contact us at 803-454-3418 to set up your FREE No-Obligation consultation where we will meet to tailor a program to fit your needs and comfort levels for monthly payment and investment.
Columbia SC VA Mortgage Loans, Columbia SC – Bill Oliver, a VA Loan Specialist. Cendera Funding is ready to serve your mortgage needs in Columbia, Forest Acres, Lexington, West Columbia, and Irmo South Carolina. Our experienced loan officers have all the right tools to make sure that you get the right mortgage loan for your short and long term financial needs. We strive to exceed your expectations on every transaction. (803) 719-5072 or (803) 454-3418
Columbia SC Mortgage Loans FREE REPORTS when looking for Mortgage Loan. 7 Things You Should NOT Do When Applying For A Home Loan, Top Questions You Must Ask Before Applying for a Mortgage How to Finally Stop Renting And Own A Home Of Your Own, Important Terms You Must Know Before Obtaining A Mortgage, Checklist of Items Lenders Need To Approve Your Loan Application, 12 Secrets To Lowering Your Homeowner Insurance Cost Your Agent Doesn’t Want You To Know, Money & Time Saving Tips For Successful Move, Tested and Proven Strategies For Building A Better Credit Record Faster and Easier, 3 Quick Tips For Repairing Your Credit Report, and The Dangers of Identity Theft and How to Protect Yourself! as well as VA Eligibility Requirements, and VA Rates
