You might think, since I already own the property why do I have to pay closing costs like when I purchased a new property?
Each time you get a new loan on your property, you still have to go through the approval process to verify that you are able to repay that loan. (Exceptions: FHA streamlines and VA IRRRL)
As you go through the process of getting approved, there are dozens of people involved that take your loan from point A (initial application) to point Z. … (0 comments)
home loan: 10 Commandments During Home Loan Process
- 02/20/16 08:29 AM
10 Commandments when Applying for a Home Loan 1. Thou shall not change jobs or become self-employed (The previous 2 years prior to applying is best to be stable at the same job) 2. Thou shall not buy a car, truck or van until "after" you close on your home loan (lest you may be living in it) 3. Thou shall not use your Credit Cards excessively or let payments fall behind (I know it’s the lifestyle, but when getting a home loan, the only plastic surgery you should consider is to have your credit cards removed.) 4. Thou shall not spend the money you had set aside … (2 comments)
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