There are a variety of opportunities in the Phoenix Real Estate Market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.
It's tough enough nowadays to get a mortgage, but we have seen a lot of similar mistakes that have been preventing people from getting a mortgage in order to buy a home. Here are 10 tips on how to keep your mortgage in place and have a successful closing:
1. Don't change your job
Don't quit your job, either. It will negatively affect your ability to get a loan
2. Don't cosign for anybody
Any small credit change could affect you in the long run
3. Don't buy a vehicle
Unless you plan on living in it, that is. Buying a vehicle can negatively affect your credit to the point that you probably won't be able to buy a home anymore.
4. Don't use credit cards excessively or miss your payments
5. Don't spend money that's set aside for closing costs
6. Don't lie or mislead on your credit application
The smallest little change can affect you
7. Don't buy new appliances
Buying furniture, appliances, or other household items could set you over the edge on your credit.
8. Keep your credit the way it is
9. Don't make large deposits, talk to your lender first
10. Don't pay off collections or charge offs.
Bottom line, always check with your lender before making any changes to your credit, no matter how small they seem. Staying on top of your credit now will only help you in the future.
If you have any questions for us, please feel free to call or send us an email. We'd love to answer them for you.
