Common Sense Credit Advice
While Buying and Financing a Home
It would seem to be common sense, right?
If you're in the process of applying for a Mortgage and heading towards your Mortgage Closing ... you shouldn't do anything that would upset the fragile balance of your credit or the Mortgage Approval received from your Mortgage Lender.
Yet it happens ...
I provide the advice spoken of above multiple times throughout their mortgage processing to all my clients. I tell them ...
Stop! Think!
- Don't buy anything on current credit accounts/cards
- Don't apply for new credit (no matter how tempting or how good a deal it sounds)
- Don't move funds or monies from account to account
In short? Don't make a move financially unless you talk to me first!
What happens if you don't follow my advice? Be aware that problems can arise. Problems that can cause delays. Problems that have been known to derail Mortgage Approvals and Closings.
Now I'm certain you've seen or heard this advice before. Besides being provided in my many posts, this common sense advice is provided frequently in one form or another in many places.
Yet this morning, I learned that one of my clients had not followed my advice and fallen to temptation. Over the weekend they had applied for a new credit card at a home improvement center. It's going to cause them a problem.
Yep. Credit Scores can be that fragile. So can Mortgage Approvals.
So do yourself a HUGE favor ...
* If you're presently in the process of applying for your Mortgage ...
* Or thinking of applying soon ...
Click on, read, and take the advice provided in my "10 Commandments When Applying for Mortgage" seriously. Follow my advice to a "T".
You'll avoid problems and extra stress within your mortgage process and homebuying transaction when you do ...
* Hoping to buy or refinance a home in Chicagoland, Illinois, or Wisconsin? Have concerns regarding your credit history or Credit Report?
Contact me today. I'll put my 37 years of mortgage experience and expertise hard to work on your behalf.
I can be easily found at:
Gene Mundt
NMLS #216987 - IL Lic. #031.0006220 - WI Licensed
American Portfolio Mortgage Corp.
NMLS #175656
Direct: 815.524.2280
Cell/Text: 708.921.6331
eFax: 1.815.524.2281
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