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  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! 61 