Decided to take a break from the Moving Checklist today to share a little tip with you about your financial status and things to avoid when applying for a loan, for those under contract to buy a home.
Thou Shalt Not...
Buy a New Car
Open a Credit Card
Have your credit pulled for any reason (furniture, appliances, cell phone, etc)
Dispute any liabilities on your credit report
Accept large deposits without a paper trail (gifts, cash on hand, etc)
All of the above could affect your ability to qualify for a home loan, even on the day of closing. Don't learn the hard way! Be honest and upfront in your financial standing and make sure to avoid spending until your home purchase is closed and funded. Take care of your financial future!
Ashley Cox is a Realtor® with Dallas City Center Realtors and strives to provide excellent service and assistance to Buyers and Sellers in the Dallas/Fort Worth Metroplex. If you are in the market to buy or sell and need the assistance, guidance and support of a professional, call (972) 978-3109 today.
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