Badassery Magazine December 2017 Issue 19 | Page 62
6.
DON’T use your credit
cards for big purchases until
after your loan closes. Buying
furniture and appliances before
your loan closes could derail your
loan approval. When you raise
the balance on revolving ac-
counts, they usually increase the
minimum payment which raises
your debt to income ratio. You
can shop and decide on your new
furniture and that big gorgeous
refrigerator, but don’t buy them
until your loan has closed.
7.
DON’T switch bank ac-
counts during this time or trans-
fer credit card balances to new
lower interest cards. If you do,
we’ll need to document every-
thing and you won’t enjoy it!
Same goes for depositing cash. If
it’s a few hundred dollars or less,
use that for your living expenses.
If you’ve sold something and you
have a few thousand to deposit…
call your Loan Consultant first to
figure out a plan.
8.
DON’T FSBO! If you cur-
rently own your own home, and
plan to sell it, please use a real
estate agent. Seriously! I have
seen too many new purchases go
sideways because the buyer on
their FSBO (For sale by owner)
backs out at the last minute, or
can’t get financing. The realtors
really do earn that 3% and will
probably help you get more mon-
ey than if you try to do it on your
own. You’ve been told.
9.
DON’T go on vacation!
Well, if it’s already been in the
works, ok. But tell us!!! As soon
as possible. We really do need
your help to get your purchase
closed, and we’d like to be laying
on a beach too…. But seriously, if
you can, please plan your vaca-
tions for after your loan closes.
You’ll thank me later!
above and don't want to fess up.
Often this is when their rate is
already locked, and time is of the
essence. Yes, I will be hounding
you in this situation!
I hope this helps to give an over-
view of what NOT to do during
the mortgage process. It is much
smoother when you follow these
ten simple rules and work with
your lending team to get from
start to finish! You can do this,
and I'm here for advice if you
need it! Contact me through
LynnTheLender.com.
10. DON’T go AWOL on us!
From experience I can say that
the people who feel hounded
or over-communicated to are
the ones that take their sweet
time opening and responding to
emails. They are the ones that
say they’ll send something right
away, then nothing for days. Or
they do one of the items listed
About the Author
I began my career as a receptionist, working up through several
mortgage positions over the last 24 years. I love working directly
with clients as a Mortgage Loan Consultant! I live in Bothell WA
with my family (and lovable dog Tank), but I can help if you are in
other states too! Please contact me with your questions! Exceptional
service begins with clear communication and integrity. I'm certified
as a Caliber Military & Veteran Lending Professional and teach
homebuyer classes in my area. I can get you into a home, If not now
then we'll work on a plan to get you there!
lynnthelender.com
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