loan qualification: 25 Biggest Mistakes - Mistake #11 - Not putting the mortgage and closing costs up for bid. - 04/02/09 09:07 AM
Many Real Estate Closing Costs ARE negotiable. A proper bid program can save thousands of dollars in both the long and short run.
The role of the HBE Mortgage Advisor is:
1. Has a second informational meeting to discuss your OTHER purchase. (We at HBE feel that your mortgage loan is also a purchase, and a very important one at that)
2. Review your financial situation.
3. Help you determine your ability to achieve financing.
4. Helps make clear the tax effects of your home purchase.
5. Determines the affordable home cost.
6. Helps identify your ideal home features.
7. Bids … (0 comments)
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loan qualification: 25 Biggest Mistakes - Mistake #7 - Spending money while in escrow. - 03/01/09 05:12 PM
Don’t spend money on any “Big Purchases,” (over a couple of hundred dollars), while you are trying to buy a home!!
This is a big no-no!
The reason for this is that if you are getting a loan, at the last minute before the lender funds your loan they may pull your credit again and if your credit score has changed because you have more debt or the ratios that you originally qualified under are different, you could lose the house!
So don’t buy furniture, appliances, cars, Harley’s, clothes or anything of the sort! Even if you are paying cash … (1 comments)
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