10 things not to do while getting home financing

  1. Transfer money between accounts unless receiving complete documentation from your bank itemizing all transfers.
  2. Make unnecessary checking or savings account transactions, such as withdrawals or deposits.
  3. Leave an existing job.
  4. Allow your bank accounts to go into a negative balance ever if you have an overdraft protection.
  5. Take out cash advances on credit cards or apply for credit in any form including credit for a major purchases such as car or furniture or apply for credit to consolidate or change existing credit.
  6. Co-sign on any debt with a family member or anyone else.
  7. Ask a tenant to move out or give your landlord notice that you are moving out.
  8. Delay paying all debts on time.
  9. Pay disputed accounts or bills in collection with collection agencies without speaking to your Mortgage Loan Originator.
  10. Have a friend or family member pay for anything related to the purchase of a home (appraisal , earnest money, down payment etc.) since gifts are only allowed under certain guidelines.

You can unknowingly sabotage your home financing goals by making some obvious and not so obvious moves with your finances.

**Looking Out For Your Best Interest**

Brandy Whitmire | Branch Manager | Mortgage Loan Originator | NMLS #194877 

Office Phone: 214-660-5000 | Email: BWhitmire@financemyhome.com

HomeBridge Financial Services, Inc., DBA FinanceMyHome.com   

Mobile APP: www.BrandysApp.com

Application: www.BrandyWhitmire.info

Related Articles

Right now, the biggest news story to follow is the U.S. and China trade negotiations. This past week, home loans started inching higher but were "saved" momentarily midweek when reports came out suggesting a delay of a "phase one" trade deal signing. Remember that bonds and home loan rates like…
Read More of the post How Fast Rates Can Change

Fed Takes Action Nov 1 2019

This past week the Federal Reserve cut the Fed Funds Rate for the third time this year, by .25%. Along with the rate cut, the Fed released a statement that suggested a "pause" in further cuts, but stated they will be ready to act again should "slowing global conditions" continue…
Read More of the post Fed Takes Action

This past week home loan rates were essentially unchanged from the previous week, breaking a trend of higher rates since the beginning of October. Bonds hate good news and there is still plenty to go around: U.S./China trade dispute progress Brexit progress Corporate earnings remain positive, as does the economic…
Read More of the post The Remedy for Higher Rates

This past week home loan rates ticked up, yet remain just above 3-year lows. Here are 3 reasons why: Solid corporate earnings and future positive guidance from many public companies were a pleasant surprise for many who were bracing for a far more disappointing outlook. As a result, stocks moved…
Read More of the post Optimism Hurts Rates