If you are thinking of buying a home and want to take advantage of today's low interest rates, keep in mind these few tips to help with your credit scores, your loan approval and to ensure all the pieces of the puzzle fall in to place. A misstep can sabotage your ability to get a loan at a great rate - or any loan at all.
- Don't quit your job, change jobs or start a new company. Buy the house before you make a major change unless your new employer is assisting you with your purchase.
- Don't buy a new car. In fact, don't even test drive one. The dealer may run a credit check on you which will increase the number of credit inquiries and could lower your credit scores.
- Don't transfer between or deposit large sums of money in your bank accounts. You'll need to document any random deposits into your account. If you receive a cash "gift", you may need to complete paperwork to document it.
- Don't open new credit cards - no matter how enticing an incentive might be.
- Pay your bills on time. Avoid any disputes.
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2 comments:
The home lone your loan approval and to ensure all the pieces of the puzzle fall in to place.
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Investment home loans are loans that first time investors or professionals can take out in order to invest on their home in order to be able to invest in more expensive properties and to make more profit as a result.
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