20 ways to make your home loan underwriter (the "judge") love you better - and none of them have to do with "improving your credit."

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 20 ways to make your home loan underwriter (the "judge" love you better -- and none of them have to do with "improving your credit.."


So many people focus on their credit when they are trying to get approved.  Yes, that is important.  But, there are other very important things you can do to improve your chances of approval success. 


"Deposit the difference DIRECTLY into your 'I AM GOING TO BUY A HOME' soon 'home savings account.'"

One of the things that can help you in trying to qualify to buy a home is having some savings. Even if you are getting a down payment assistance program, it really helps to have some savings. Just think, if your file is borderline, but you have some savings, that can push you into APPROVAL LAND (it lowers the risk, which is what underwriters like to see!). So, here are some ideas.


 20 ways to deposit more money into your “I AM GOING TO BUY A HOME” savings account.

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1. SHARE YOUR SPACE… While you are saving up your money for your down payment, or your post closing furniture, get a roommate to split the rent with you. Put the difference into your home savings.

2. EAT OUT LESS…Shift from eating out to eating at your place. Put the difference into your home savings account.

3. EAT LESS, PERIOD… Take smaller portions the first time around, eat slower, and think twice before reaching for seconds. Reward yourself by putting the difference into your home savings account.

4. WALK, OR BIKE, OR RIDE THE BUS INSTEAD OF AUTOMATICALLY JUMPING IN THE CAR…How much gas would you save, and car wear and tear, if you chose to leave your car parked more often. Pay yourself the difference, and put the difference into your home savings account.


6. SELL YOU. Babysit, housesit, cut hair informally, tutor… PUT ALL THE EXTRA INTO YOUR HOME SAVINGS ACCOUNT.

7. SELL YOUR STUFF...Craigslist, Ebay. Garage sales. (Helps get your home in order before the move, too!) PUT ALLTHE EXTRA INTO YOUR HOME SAVINGS ACCOUNT.

8. STAY HEALTHY…Keep up your wellness visits so you don’t end up with any surprises. For every month healthy, put some funds into your home savings account.

9. WATCH FOR SALES AND COUPONS at places where you shop anyway…Put the amount you saved INTO YOUR HOME SAVINGS ACCOUNT.

10. ASK FOR PRUDUCT SAMPLES…Put a few dollars into your home savings account.

11. DON’T GO TO THE GROCERY STORE HUNGRY…Put the HUGES savings into your home savings account.

12. BROWN BAG IT 2 OR 3 TIMES PER WEEK…Calculate the approximate savings and put the extra bucks into your home account.

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13. STAY ON TOP OF YOUR EXPIRATION DATES…Don’t waste food by letting the expiration date go by too fast! Watch the dates.

14. KEEP UP WITH THE LEFTOVERS…Have leftover night and then with the extra time you did not spend cooking, pop in a DVD.

15. BUY GENERIC BRANDS ANY TIME YOU CAN….Put the estimated savings into your home account.

16. AVOID AVOIDABLE FEES – ATM fees, late fees… Reward yourself for being so smart to avoid the fees by putting some extra money into your home savings account.

17. DISCONNECT YOUR LAND LINE. Put the savings into your home savings account.

18. GO TO THE LIBRARY FOR FUN, INSTEAD OF TO THE MOVIES.  (Turn your thermostat down at YOUR place while you are in the cool, cool library). Get some books to read, or borrow some DVD’s. Put your theatre money into your home savings account.

19. CLAIM YOUR MISSING MONEY…Have you been told that the state has some of your missing money, and you have been too lazy to claim it? Shame! Claim it! Put it into your home savings account


IN ALMOST NO TIME AT ALL, YOU CAN IMPROVE YOUR CHANGES OF A LOAN APPROVAL, simply by having more money "in reserves." 


I just LOVE Katy, Texas .. If you don't live in Katy, Texas yet, I will save you a place -- because you WILL want to live here soon.


Cheryl Kitsch



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Harris County Down Payment Assistance, DAP, Mortgage Credit Certificates, MCC, USDA, Houston Down Payment Assistance, HAP, TDHCA Bond 77 , Texas Department of Housing and Community Affairs, Homes For Heroes, TSAHC, Texas Veterans Land Board, TX Vet, FHA, VA, Conventional, Subdivisions Include:  Summer Lakes, Southridge Crossing, Southdown Trace. Plantation Lakes, Mount Royal Village, Lakes at Mason Park, Kingspoint GardensCypress Trace, Bentwood at Bay Colony, Audubon Lake, Avondale, Edgewater on the Bay, Sugar Pine PavilionSchool Districts include: Cypress Fairbanks Independent School District, TX,  Lamar Consolidated Independent School District, TX, Houston Independent School District, TX, Pasadena Independent School District, TX, Cypress Fairbanks Independent School District, TX, Aldine Independent School District, TX, Katy ISD, TX, Pasadena Independent School District, TX, Cy-Fair Independent School District, TX, Klein Independent School District, TX, Dickinson Independent School District, TX, Cy-Fair ISD, Katy ISD; Schools include Morton Ranch Elementary, Morton Ranch Junior High, Morton Ranch Elementary, Thomas Elementary , Navarro Middle School, George Ranch High School, McFee Elementary School, Thornton Middle School , Cypress Lakes High School, Cypress Springs High School, Postma Elementary, Hopper Middle School, Smith Middle School, Cy-Springs High School , Hancock Elementary,  Bleyl Middle School, Cypress Creek High School, Post Elementary , Dean Middle School, Jersey Village High School, Benfer Elementary , Strack Middle School, Klein Collins High School, Ponderosa Elementary, Bammel Middle School, Westfield High School, Sammons Elementary, Northwest Intermediate, Shotwell Middle School, Eisenhower Ninth Grade, Eisenhower High School, Mitchell Elementary , Thomas Middle School, Sterling High School, Atkinson Elementary,  Beverly Hills Middle School, Pasadena Memorial H. S. l, Genoa Elementary, Miller Intermediate School, Pasadena Memorial High School, Bay Colony Elementary, Dunbar Middle School, McAdams Junior High School, Dickinson High School


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Comments (5)

Ed Gillespie
WealthWise Mortgage Planning, a Division of American Pacific Mortgage Corporation NMLS #1850 - Folsom, CA

Cheryl, you are right.  Reserves are a favorite compensating factor among Underwriters everywhere!

Jul 25, 2011 02:25 PM
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Good morning Cheryl.


Jul 26, 2011 12:28 AM
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Chesterfield, MO


Good ideas!  Plant a garden...

Ann Hayden in Wildwood, MO

Jul 29, 2011 02:25 PM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Cheryl, This is good advice for getting into that first home. But these are tips that can help anyone in these unsettling financial times.

Jul 30, 2011 05:07 PM
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Those are lots of good tips for saving a few bucks, which soon add up.  Saving seems to be a lost art, like cooking.

Nov 26, 2011 12:52 PM