Page 8 - Buyer`s Packet

tips for:

MORTGAGE FINANCING

A l w a y s c h e c k w i t h y o u r l e n d e r b e f o r e d o i n g a n y

o f t h e f o l l o w i n g p r i o r t o closing o n y o u r h o m e :

M a k i n g a b i g p u r c h a s e :

Avoid making major purchases, like buying a
new car or furniture, until after you close on
the home. Big purchases can change your
debt-to-income ratio that the lender used to
approve your home loan and could throw the
approval into jeopardy.

O p e n i n g n e w c r e d i t :

Do not open any new credit cards or get a loan
without speaking to your lender first.

M i s s i n g a n y p a y m e n t s :

Pay your bills on time to keep your credit score
from dropping.

C a s h i n g o u t :

Avoid any transfers of large sums of money
between your bank accounts or making any
undocumented deposits - both of which could
send "red flags" to your lender.

K e e p t h e s a m e j o b :

Be kind to your boss and keep your job. Don't
begin looking for new work right now, unless
it's a second job to make extra money.