Before Buying a Home
First of all, do not make any large purchases…of and kind! This especially means going out to buy a new car. Yes, you might be able to afford it, but if you just wait until you have secured your home loan, it will greatly impact the amount of loan you qualify for and the interest rate you will receive. This is not limited to automobiles however. Any major purchase such as entertainment equipment, vacations, weddings or parties, furniture, or jewelry can affect the loan process. So just take it from me and hold off just a little bit longer for those things (if you can).
The second major thing you should not do is move money around to different accounts or assets. Loan officers are concerned about the source of funds you will be using to make your down payment or cover closing costs. Though you may have plenty of money in various accounts, they might not be able to see that easily on paper if your money is shifting around. They may require you to produce all of your deposits and receipts for all of your accounts in order to solidify their security. Believe me, this is a hassle that can just be prevented by leaving your money in one place, and don't even think about changing banks until the your loan is secured.
These are just two very simple things that actually require zero effort and can make all of the difference in your home buying experience. Of course some people may find this annoying and simple do not want to do it but most are perfectly willing to take these preventative measures to insure their home loan success. It will take a little extra planning and consideration, but in the end you will come out with all of the things you needed in the first place, just in a different order than you might have done.
Related Tags: real estate, home buying, buying a home, north carolina real estate, states, statesville real estate
About the Author: Richard Seifried is the owner of Centry21 Eddleman Realty, the leading agency for Statesville NC real estate For more information visit http://www.c21eddleman.com
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- 5 Reasons to Buy Jasper Real Estate
Jasper is a small town in North Georgia and it is growing rapidly. Since North Georgia Foreclosures - Ellijay Real Estate
Ellijay Georgia has always been known for it's outdoor activities and seasonal festivals. Downtown E - How to Deal With Blocked Drains
A blocked drain is an occurrence that happens eventually to all households. You may have experienced - The Benefits of Hiring a Plumbing Consultant
Your dream home may not always be brand new, with fresh paint and home essentials. There are certain - The Worst Mistake You Can Make When You Apply to Rent a Home
A whole new class of people has become renters and potential renters in America during the last thre - State of Individual Real Estate Markets
Everybody is well aware of the hit that the real estate market has taken over the past three years. - Thoughts on Avoiding the Landlord Trap
I've heard several people say they would never invest in a multifamily rental property because they - An Idea to Increase the Bottom Line of Your Investment Property
Are you pretty sure that you've already maximized the income coming from your property? If you've cl - Finding the Value of a Piece of Investment Real Estate
There is a lot of confusion about how much investment property is really worth. We'll look at three - Arkansas Land For Sale - Search Engine Optimization and Your Website
If you have Arkansas land for sale and are interested in advertising it on your website I have a few
Most viewed articles in this category:
- How High Did Home Prices Really Go
The U.S. Census Bureau released data on Tuesday that revealed where the nation's hottest markets wer - New Homeowners Tips for Household Safety
With so many items on their ¡°buying a home¡± checklist, few homeowners take into considerati - Truth About VA Foreclosures
Many people now days are finding themselves out of work and not being able to make the mortgage paym - Avoid Rookie Real Estate Investing Mistakes
When Robert Kiyosaki, author of the Rich Dad book series, bought his first property he was, of cours - Finding The Perfect Roommate On Craigslist
Craigslist, Roommates, and The Concerns Craigslist is "great" when it comes to looking for housing - The Forgotten Secret To Selling Property - Simple, Quick And Cheap
Why spend big dollars trying to get people to drive a long way to see your house, when your best pro - Get Amazing Results Selling Real Estate Online
This is the age of the internet. Why not take advantage of the widespread use of the internet to ad - Dallas Real Estate Information
In the United States, Dallas is considered as the second leading state according to the area. If any - The Largest Private Equity Indian Real Estate Deal
In the largest private equity deal won by the real estate sector, Morgan Stanley Real Estate has inv - Fractional Real Estate Ownership
Fractional ownership of vacation ski condos is growing in popularity. Park City Utah a popular ski t