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There are a number of home buyer mistakes done prior to closing that hinder financing. Here are some tips to avoid sabotaging your financing as a new home buyer
Lender will check credit again prior to obtaining financing, so make sure you don’t miss any other loan payments
Do not consolidate debt as it will increase debt ratios
Avoid changing jobs – lenders want to see steady employment
Do not shift finances around
Do not change your bank account as current bank has history
Do not go buy a car or other things on credit until after closing
Do not stretch truth on loan application
Do not let anyone make inquiries on your credit
Keep your down payment in a safe account so you do not touch it
Do not co-sign for anyone else (will affect your debt ratios)
Remember, these things can be done after obtaining your mortgage so hold off until your financing is in place.
Give us a call at 250-914-1122 if we can help with any community or real estate needs
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