DOs
and DON'Ts in Financing
 When
it comes to financing, you will be faced
with a lot of decisions. Knowing what to
do and what not to do will help you to get
the best deal.
The
DO’S:
Pay
your existing mortgage payments on time.
Pay
all recurring debts on time, because there
is a chance that your credit will be run
again before the close of escrow.
The
DON’TS:
Open
a new credit line.
Purchase new furniture or a new automobile
(including leasing a vehicle). A car payment
on your credit report can greatly reduce
your purchasing power on a home. Get the
house first, then think about the car later.
Transfer
funds or change banks without consulting
the loan officer first.
Put
more debt on your credit cards.
Change
or quit a job without consulting the loan
officer first. This will prevent any problems
if the lender makes a call before funding
begins to make sure that you are still employed
by the company listed on the loan application.
©
Copyright 2008
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