Thinking about buying a house? Here are 5 things you don't want to do while you're in the process of buying a new home. Even if you have excellent credit you want to avoid doing these thinks when it comes to getting your home financed. 1) Don't Make any Major Purchase: Don’t buy furniture on credit or increase your credit cards balances before buying your house. Like financing a car, charging big-ticket items increases your debt-to-income ratio. 2) Don't Change Jobs Unless It's Necessary: Don't change your job before applying for a home loan or during the loan process. Now is not the right time to become self-employed or quit your job. Lenders like to see a consistent job history. They aren't usually as nervous if you change jobs within the same field, but it's better to remain in the job until the house is yours You want to show lenders stability, which means you’ll be less likely to default on the loan.3) Don't Let Your Emotions Take Over: Keep a cool head during the entire home buying process, especially during and after a home inspection. Be realistic. No home is perfect, especially older homes. It's not unusual for new owners to take care of some repairs themselves. Don't let the seller's refusal to do a small repair kill the deal on a home you truly love.
4) Don’t Move Money Around:When a lender reviews your loan package for approval, one of the things they are concerned about is the source of funds for your down payment and closing costs. Most likely, you will be asked to provide statements for the last two or three months on any of your liquid assets. This includes checking accounts, savings accounts, money market funds, certificates of deposit, stock statements, mutual funds, and even your company 401K and retirement accounts. If you have been moving money between accounts during that time, there may be large deposits and withdrawals in some of them.
5) Don't co-sign a loan: Don’t co-sign a loan for anyone. Even if you’re not the one making the payments on that loan, it increases your debt-to-income ratio.Don't Go It Alone: Find a realtor you can trust, someone that can answer your questions and most of all a full time agent. If you're working with an agent, it's the agent's duty to track many of the day to day details that involve the lender, the seller, or the seller's agent. Be sure your agent schedules a final walk through just before closing. This will be one of the largest purchases you will make.
At Exit Realty of the South, we are committed to providing you with up-to-date information, comprehensive resources and the highest possible level of customer service in order to meet or exceed your real estate goals and objectives. Guided by honesty and integrity as a professional standard throughout the company, we are devoted to your total satisfaction as the benchmark of our success. The recipe for our success is an extensive support team that is second-to-none and passionate real estate professionals who invest numerous hours of continuing education to remain on top of their field.
Above and beyond having the desire, knowledge and ability to manage a real estate transaction, we employ innovative tools and systems that allow us to be most effective and efficient in serving you. From our computers to web-based real estate software and many other innovative techniques, we are driven to stay at the leading edge of technology to better serve you.
Our mission is to provide the highest quality Realtor services. At Exit Realty of the South we strive to provide the most knowledgeable and savvy real estate agents in the market. Whether you are buying or selling, an Exit Realty of the South sales representative has the skills to serve you above the rest.
With Thanksgiving just around the corner, I thought I should get in th
"Dorothy was personable, professional, and wonderful to work with. She had great ideas on how to sell my home. Dorothy used her many years of experience to help me set my price, negotiate counter offers and close the deal. She actually had two offers within 4 days of it being on the market a and ultimately had my house sold and closed within 25 days. "