Thinking of Buying a Home? 6 Things NOT to Do With Your Finances! by Heather Bragg

Finances
2 years ago
Thinking of Buying a Home? 6 Things NOT to Do With Your Finances!

Shopping for a new home is an exciting time, but did you know you need to get a pre-approval letter from a mortgage broker to see most homes for sale? Here are tips on what not to do from mortgage broker Jennifer De Vries before seeking a mortgage. Do not…

  • Open or close any new credit lines.
  • Move money frequently around between accounts in the most recent 60 to 90 days.
  • Make “cash” deposit into one’s account unless it can be documented.
  • Deposit a large amount (especially cash) into your account unless you can provide the source and document paper trail of the funds and the donor.
  • Do not co-sign for others on their mortgage, student loans, and/or installment loans, etc.
  • Do not change the way income is earned or paid. For example, from an employee (W2) to consultant (1099).

After you get your pre-approval letter, do go find your dream home!

Selling Your Home Isn't Like Reality TV Shows: Here are 10 Cold, Hard Real Estate Facts!

Selling Your Home? How to Decorate It for the Holidays!

Home Curb Appeal: 3 Easy Ways to Improve the Safety & Curb Appeal of Your Home

Moving Into a New Home: 5 Tips to Help You Move Like a Pro!

join discussion

Please login to comment.

recommended tips

Buying a New Car: 4 Things Car Buyers Need to Know Before Heading to the Dealership

On the Same Financial Page: 7 Expert Tips for Couples to Get Their Finances in Order This Year

Savings Hacks: 4 Under-the-Radar Ideas to Fatten Up Your Piggy Bank!

Worrying About Money? Here's Why You Should Try Being Grateful Instead!

Got 30 seconds? Sign up for 30Seconds.com and get the best of our tips each week!