spriingdale: 10 Commandments of Buying a House.
- 10/08/10 03:13 PM
A Realtor of mine gave me this a while back and I always thought it would go perfect in a frame on my desk for buyers to see when applying for a mortgage.
1. Thou shalt not change jobs, become self-employed or quit your job. 2. Thou shalt not buy a car, truck or van (or you may be living in it)! 3. Thou shalt not use credit cards excessively or let your accounts fall behind. 4. Thou shalt not spend money you have set aside for closing. 5. Thou shalt not omit debts or liabilities from your loan application. 6. Thou shalt not buy furniture. … (4 comments)
spriingdale: Beware of the YES Man!!!
- 10/08/10 02:17 PM
I cannot tell you how many times I have had a buyer sitting in my office telling me their story of why they went with another lender. They are upset because they got declined right before closing or can not get that lender to call them back. It always starts out as “they told me it would not be a problem”. My follow up question to that is. “Did they have your credit pulled, and did you provide them with your income and asset information prior to them telling you it would not be a problem”? Majority of the time, that … (2 comments)
spriingdale: Why is the Mortgage Lender asking about deposits in my bank account?
- 09/30/10 05:16 PM
When applying for a mortgage loan it is important to understand why underwriters ask certain questions. One of the most popular questions is “why do you care where a get the money for my down payment and closing cost”? First understand that when supplying bank statements for a mortgage loan, only the past 60 days worth of statements are required. There are a few things an underwriter looks at when they are looking at your bank statements. The one in question are the deposits. Depending on the type of mortgage loan you are applying for (Conventional, FHA, etc.) will dictate how … (9 comments)
A Realtor of mine gave me this a while back and I always thought it would go perfect in a frame on my desk for buyers to see when applying for a mortgage.
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