6 Things You Should Never Do When Buying a Home


    There are six things a buyer should never do when buying a home.

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    Here are the six “don’ts” you must remember before buying a home:

    1. Don’t quit your job, change jobs, or change career paths without checking with your lender. Make sure you have consistent employment before you buy because nothing raises a lender’s eyebrow more than a disturbance in your employment. 

    2. Don’t buy a new car or lease a new vehicle without checking with your lender. You need to be sure this type of thing won’t mess up your debt-to-credit ratio. 

    3. Don’t make any major credit card purchases without checking with your lender. If you come across the perfect living room set that’s on sale, stop and check with your lender so you can make sure purchasing won’t cause any problems. Most buyers don’t realize that lenders do a “soft pull” on your credit before closing on a home. They want to make sure your employment status, credit, and debt haven’t changed since you made your loan application.

     

    There’s nothing worse than getting notified right before closing that you didn’t qualify for your loan because of something you didn’t disclose.

     

    4. Don’t do anything with the money you have set aside for your closing costs and down payment. Just leave it there until you get to closing. 

    5. Don’t fail to disclose something on your loan application. Your lender will find out everything anyway, so include things like child support, alimony, and private loans you may have. There’s nothing worse than getting notified right before closing that you didn’t qualify for your loan because of something you didn’t disclose. 

    6. Don’t use a 1-800 lender. Use a local lender who has an office you can walk into and speak with them anytime you have questions along the way. If you need a recommendation for a local lender, get in touch with me and I’d be glad to help you. 

    As always, if you’d like more buyer and seller tips, visit my website ShannonR.com and check out my video library. If you’re looking to sell quickly, give me a call and ask me about our guaranteed cash offer program that allows you to close in 21 days with no open houses or showings. 

    If you have any other real estate needs, feel free to reach out to me as well. I’d love to help you.

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