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Top 10 Things NOT To Do When Buying A Home...
Our business partner and mortgage broker extraordinaire Laura Horacek with GSF Lending shared a great list of things NOT to do when buying a home with us last week. She said that she recently had a borrow quit her job just days before closing and didn't realize it would be a problem because she found another job quickly.
Clearly, it was a problem. The deal did not close because of this.
Here are the Top 10 Things NOT To Do When Buying A Home:
10. I will NOT co-sign on any new credit for anybody else.
9. I will NOT initiate any new inquiries into my credit.
8. I will NOT close any of my bank accounts or change banks.
7. I will NOT make any large deposits before checking with my Mortgage Lender.
6. I will NOT establish any new items of credit within 60 days of my closing.
5. I will NOT omit debts or liabilities for my mortgage application.
4. I will NOT spend funds that have been set aside for closing.
3. I will NOT use my existing credit cards excessivelly or fall ... more
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