Looking to buy your first home? Here is the Top 10 List of financial Don’ts!
When you are in the market to buy a home there are several things you want to keep in mind relating to your finances.
1. Don't change jobs or become self-employed
2. Don't buy a vehicle or boat
3. Don't use your credit card excessively or let current accounts fall behind
4. Don’t spend money that you have earmarked for your down payment or closing costs
5. Don’t omit any debts or liabilities from your loan application
6. Don’t buy furniture on credit
7. Don’t open any new credit cards
8. Don't make any large deposits without checking with your mortgage banker
9. Don’t change banks
10. Don’t cosign a loan for anyone else
Even if you are a year or two away from buying a home, contact a mortgage banker now. Mortgage Bankers can help you look into your credit history and guide you to get your credit in top shape for when you are ready to buy. I work with Mortgage Bankers everyday and can provide you some great referrals!
This is first in a series of tips and tricks for first time home-buyers written by Amy Kramer, Realtor serving Austin, TX.
2nd in the series for New Home Buyers
3rd in the series for New Home Buyers
4th in the series for New Home Buyers
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