What are the keys to the game when it comes to purchasing a new home? There is a plan of dos and don’ts that come into play if you are considering either buying a house for the first time or up grading your current residence.
Many of the challenges to buyers today are the same for everyone, having the ability to pay. If you are planning to make a home move, you will want to make sure you don’t hinder your ability to qualify from the start.
First do not make any major purchases such as a new car or even to pay off large credit card bills. Go to your trusted local home mortgage professional to make sure you don’t fall into the money trap. Next don’t make any job changes that are going to affect your overall standing. For instance to make a move to a job that is commission based if you had employment that taxes were taken out. When going for a loan for a home the companies are looking for stability and changing jobs (even for the better) could be a short term detriment.
Keep things as they are if at all possible, any change in your credit history for the good or bad can raise some initial red flags. Steady as she goes is a good thought until you talk to your mortgage person.
1 comment:
This is really informative as well as an interesting post to read. This post would remind home buyers what they need to do and not to do. Anyway, thanks for sharing this.
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Pia
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