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7 Things To Avoid When Applying for a Mortgage to buy in Leisure World
7 Things To Avoid When Applying for a Mortgage to buy in Leisure World
So you’ve found a home to buy in Leisure World of Maryland and have applied for a mortgage! You are undoubtedly excited about the opportunity to decorate your new home or condo! But before you make any big purchases, move any money around, or make any big-time life changes, consult your loan officer. They will be able to tell you how your decision will impact your home loan.
 
 
Below is a list of 7 Things You Shouldn’t Do After Applying for a Mortgage! Some may seem obvious, but some may not!
 
1. Don’t change jobs or the way you are paid at your job! Your loan officer must be able to track the source and amount of your annual income. If possible, you’ll want to avoid changing from salary to commission or becoming self-employed during this time as well.
 
2. Don’t deposit cash into your bank accounts. Lenders need to source your money and cash is not really traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.
 
3. Don’t make any large purchases like a new car or ... more

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