Top 10 Things NOT To Do When Buying A Home...

By
Real Estate Broker/Owner with Christiansen Group Realty (260)704-0843

Mortgage Brokers in Fort WayneOur 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 behind on my payments.  

 

 2.  I will NOT purchase any large items on credit such as vehicles, appliances, or furtniture.  

 

 1.  I will NOT change jobs, become self-employed, or quit my job.  

 

These are all great words of advice from an experienced mortgage broker that we know and trust.  

 

If you're considering buying or refinancing a home in the Fort Wayne area, Laura can be reached at 260.450.1321, or you can apply online HERE.  Laura is one of the most knowledgable lenders that we've ever worked with, and she actually helped Amanda and I when we purchased our home.  

 

I guess what I'm trying to say is that she's fantastic!  Give her a call today!  

 

 

Posted by

 

 

   

Fort Wayne Realtors Jared and Amanda Christiansen with Century 21 Bradley

Amanda Christiansen is an award winning Realtor with Christiansen Group Realty.

 

Jared Christiansen is a business partner and in charge of marketing and taking care of things behind the scene.

 

Enough about us...

 

Tell us what you want your real estate experience to be, and we will do it YOUR way.

 

Buying a home in Fort Wayne? Tell us your wants and needs. Let us know how you envision your family living.  Tell us what's important to YOU, and we'll find the community and home that fits.  

 

Selling your home in Fort Wayne?  Our job is to make you the most money possible in the shortest amount of time. We offer our sellers professional staging, professional photography, and more internet marketing than most. 

 

We are committed to giving you everything we have to offer.  We are both full time agents and will work around your schedule.  Do nights and weekends work better for you?  NO PROBLEM. We are here to help YOU at YOUR convenience.

 

Amanda can be reached at 260-704-0843, and Jared can be reached at 260-704-0842, or you can email us at JaredChristiansen@gmail.com, or Amanda427@gmail.com.

 

 

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Re-Blogged 4 times:

Re-Blogged By Re-Blogged At
  1. John McCormack, CRS 06/16/2014 01:00 AM
  2. Gene Riemenschneider 06/16/2014 03:50 AM
  3. Ann Mullikin 06/20/2014 05:46 AM
  4. John Martelotti 07/25/2014 12:41 AM
Topic:
Home Buying
Location:
Indiana Allen County Fort Wayne
Groups:
Posts to Localism
HyperLocal Neighborhood and Community Posts
Tags:
loan officers in fort wayne
who can give me a good rate on a loan in fort wayne

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Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

This is a great list and we know why you have Laura as a referral partner!  Years ago a buyer, who was marginal with her credit score, was denied the loan at the last minute.  Underwriter pulled credit and found an new "debt."  When questioned she said, "You told me not to buy a car . . . so I leased one!"  [My former broker's client, not mine! BTW]

Jun 16, 2014 04:28 AM #10
Rainer
5,610
Ed Herbst
Keller Williams Classic Realty - Orlando, FL

#8 should also include Credit Cards.

Jun 16, 2014 04:35 AM #11
Rainer
408,824
Gabriela Agostinelli
RE/MAX100 - Leonardtown, MD
your full time agent!

Great list Laura! 

Jun 16, 2014 04:38 AM #12
Rainer
345,824
Jennifer Prestwich
Henderson, Thornton, Broomfield and Westminster - Henderson, CO
Madison & Co Properties

I just had a buyer do #4... Lost the deal for my sellers. :(

Jun 16, 2014 05:34 AM #13
Ambassador
1,549,863
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Yes, yes, yes! I could fill all ten of the words needed for comment credit with the word "yes." How many times do we drill this into our clients' heads, only to be scrambling for a solution when they ignore the advice. 

Jun 16, 2014 05:41 AM #14
Rainmaker
370,263
Travis "the SOLD man" Parker; Associate Broker
Team Linda Simmons, Enterprise, AL 36330 - Enterprise, AL
email: Travis@theSOLDman.me / cell: 334-494-7846

I use a similar list and call it "The 10 Commandments of Mortgages", or something like that, Have it on parchment looking background.

Jun 16, 2014 06:32 AM #15
Rainmaker
684,722
Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

Great list a buyer needs to read this list; especially, in today's market where anything can happen. Thanks for sharing have a great afternoon.

Jun 16, 2014 07:07 AM #16
Rainmaker
1,346,986
Jeff Jensen
The Federal Savings Bank/Lending in 50 states - Greenwich, CT

Thank you!  You provided a great handout to give potential buyers.

Jun 16, 2014 07:50 AM #17
Rainer
144,447
Gordon Wood
Canyon Ridge Realty LLC - Scottsdale, AZ
480.226.2842

Nice post... Every buyer using any type of loan need to reference this list. Thanks for the information. Cheers

Jun 16, 2014 08:28 AM #18
Rainmaker
108,749
Brian Olsen
Portland, Lake Oswego, West Linn & Dunthorpe Neighborhoods, Waterfront, Luxury & Floating Homes - Lake Oswego, OR
Cooper Jacobs Real Estate Group | Keller Williams

Great BLOG Jared and Amanda. Thank you for the ActiveRain activity. Have a wonderful week. Thanks again!

Jun 16, 2014 09:13 AM #19
Rainmaker
1,020,471
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Great advice. People just do not realize how these financial choices can damage their chance of getting a new home loan. 

Jun 16, 2014 11:51 AM #20
Rainmaker
1,059,812
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Jared, every item on this list is essential to gaining full loan approval.

Jun 16, 2014 03:15 PM #21
Rainer
117,505
Bill Morrow
Keller Williams of Central PA - Mechanicsburg, PA
Bill Morrow, Associate Broker

...and ADD one "to do" to the list.  I will listen to my Real Estate Agent and Lender and adhere to their advice regarding what NOT to Do regarding my finances and credit until closing time.

Jun 17, 2014 01:22 AM #22
Rainmaker
214,375
Rajeev Narula
iPRO REALTY LTD.,Brokerage - Mississauga, ON
My Services Are All About You!

Excellent tips Laura.

 

I am going to print the list of Don'ts and give it all my buyers.

 

Thanks for sharing.

 

 

Jun 17, 2014 04:38 AM #23
Rainmaker
985,913
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Great countdown Amanda and Jared Christiansen. Thanks for sharing in AR!

Jun 17, 2014 07:22 AM #24
Rainer
61,819
Sharon Sanchez
Ace Home Realty - Carson, CA
Your Number "1" Source For Real Estate.

Great list.  Thanks.

Jun 17, 2014 10:39 AM #25
Rainmaker
90,774
Edith Schreiber
Luxury Homes, Move Up Buyers, 1st Time Homebuyers, New Construction - Frisco, TX
Dallas Area Real Estate

Very good info & post! Thanks for sharing!

 

Jun 18, 2014 01:34 AM #26
Rainmaker
1,514,127
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

Excellent list. Unless one is paying cash I advise them to freeze in place...go to work, school, eat, sleep...no shopping, no spending, no borrowing!

Jun 18, 2014 04:48 AM #27
Rainmaker
422,271
Catherine Ulrey
Keller Williams Capital City - Salem, OR
Equestrian and Acreage Property Specialist

Such good advice.  I don't think the average buyer realizes that ALL of their actions have consequences. 

Jun 18, 2014 01:30 PM #28
Rainmaker
273,464
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

This is a good list. I had a client buy a new car because his just quit working. He has to get to work, but he won't qualify for a house now.

Sep 29, 2014 08:29 AM #29
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Christiansen Group Realty
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